Chapter 9 - Application: International Trade

0.0(0)
Studied by 1 person
linked notesNote
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/3

flashcard set

Earn XP

Description and Tags

Macroeconomics

International Trade

4 Terms

1
New cards
comparative advantage
Gains from trade are based on ________, not absolute advantage.
2
New cards
domestic quantity
The ________ supplied differs from the ________ demanded.
3
New cards
tariff
When ________ raises the domestic price, the domestic sellers are better off and domestic buyers are worse off.
4
New cards
tariff
A(n) ________ raises the domestic price of products above the world price.