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MACROECONOMICS INTERNATIONAL TRADE STUDY GUIDE COMPREHENSIVE REVIEW WITH SOLVED QUESTIONS 2026

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MACROECONOMICS INTERNATIONAL TRADE STUDY GUIDE COMPREHENSIVE REVIEW WITH SOLVED QUESTIONS 2026

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MACROECONOMICS

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MACROECONOMICS

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Institution: MACROECONOMICS
Module: MACROECONOMICS

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Uploaded on: January 20, 2026
Number of pages: 2
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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macroeconomics international trade study guide com

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MACROECONOMICS INTERNATIONAL TRADE
STUDY GUIDE COMPREHENSIVE REVIEW WITH
SOLVED QUESTIONS 2026

◉Tariffs can . Answer: hurt domestic industries

◉Comparative advantage . Answer: can produce a good/service at a
lower opportunity cost than other countries

◉Absolute advantage . Answer: can produce more of a good

◉Nations should specialize in . Answer: goods/services when they have
a comparative advantage

◉balance of payments . Answer: account of trade for an economy

◉current account . Answer: purchases of goods and services between
countries

◉when imports are greater than exports there is a . Answer: current
account deficit

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MACROECONOMICS INTERNATIONAL TRADE STUDY GUIDE COMPREHENSIVE REVIEW WITH SOLVED QUESTIONS 2026

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