ECO 372 Week 1 participation Principles of Macroeconomics, Ch. 9: Application — International Trade

ECO 372 Week 1 participation Principles of Macroeconomics, Ch. 9: Application — International Trade

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ECO 372 Week 1 participation Principles of Macroeconomics, Ch. 9: Application — International Trade
 

Consider the following as you read:

 

 

 

Consider what the domestic price that prevails without international trade tells us about a nation’s comparative advantage.
 

 

Consider how to define what a tariff is and its economic effects.
 

 

Consider the difference between the unilateral and multilateral approaches to achieving free trade. Be prepared to give an example of each.
 
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