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Question: In a recent study, three economists estimated the benefits of trade to the American economy since 1950.7 Looking at the benefits from comparative advantage, economies of scale, diffusion of production technology, and many other factors, they estimated that trade accounted for roughly 20% of the gains in GDP per person. With such gains from trade to the average household, why would so many people seem to be against trade and globalization?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92292231

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