Classical theories assume no foreign exchange complications.
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Q12: Strategic trade theory advocates mercantilist policy for
Q13: Economist Adam Smith proposed the theory of
Q14: Classical theories are based on the assumption
Q15: Trade deficit occurs when a nation exports
Q16: The concept of opportunity cost is crucial
Q18: The basic concept of protectionism and mercantilism
Q19: The product life cycle theory explains patterns
Q20: The theory of national competitive advantage of
Q21: The _ theory viewed international trade as
Q22: In the context of tariff barriers,net losses
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