What theories are categorized as firm-based theories? Which theories are categorized as country-based trade theories? What does each type of theory help explain?
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Q46: What is the key difference between the
Q47: An "unfavorable" balance of trade indicates that
Q48: The firm-based theories developed after World War
Q49: Explain what determines the products for which
Q50: Why was Adam Smith opposed to mercantilism?
Q52: According to mercantilism, a nation's wealth is
Q53: Leontief found that the United States was
Q54: What is opportunity cost? Why is opportunity
Q55: North Americans and Europeans have long applauded
Q56: Adam Smith developed the theory of comparative
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