The product life cycle theory explains patterns of trade based on factor endowments.
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Q14: Classical theories are based on the assumption
Q15: Trade deficit occurs when a nation exports
Q16: The concept of opportunity cost is crucial
Q17: Classical theories assume no foreign exchange complications.
Q18: The basic concept of protectionism and mercantilism
Q20: The theory of national competitive advantage of
Q21: The _ theory viewed international trade as
Q22: In the context of tariff barriers,net losses
Q23: In the context of tariff barriers,deadweight =
Q24: The infant industry argument demands lesser government
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