Assume that you have an opportunity to visit civilization in outer space. Its society is at roughly the same stage of development as the US society is now. Its economic system is virtually identical to that of the United States, but derived trading is ILLEGAL. Compare and contrast this economy with the US economy, emphasizing the difference due to the presence of derivative markets in the latter.

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter18: Gaining From International Trade
Section: Chapter Questions
Problem 4CQ
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Assume that you have an opportunity to visit civilization in outer space. Its society is at roughly the same stage of development as the US society is now. Its economic system is virtually identical to that of the United States, but derived trading is ILLEGAL. Compare and contrast this economy with the US economy, emphasizing the difference due to the presence of derivative markets in the latter.

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