Exam (elaborations)
IBUS 370 Exam 2 with Complete Solutions
- Course
- Institution
Mercantilism (mid-16th century England) - ANSWER-It is in the best interests of a country to maintain a trade surplus, even if this means government intervention (maximize exports, minimize imports). (Sell more abroad and buy less) Absolute Advantage (Adam Smith 1776) - ANSWER-Countries should s...
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