Give typing answer with explanation and conclusion According to classical economists, instead of mercantilism, which says countries should produce everything themselves, what should countries do? a. Use tariffs to protect local industries b. Create an organization that dictates how countries should trade c. Specialize in producing what they are good at producing, and import other goods d. Engage in trade wars to try to gain an advantage
Give typing answer with explanation and conclusion According to classical economists, instead of mercantilism, which says countries should produce everything themselves, what should countries do? a. Use tariffs to protect local industries b. Create an organization that dictates how countries should trade c. Specialize in producing what they are good at producing, and import other goods d. Engage in trade wars to try to gain an advantage
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter20: The Global Economy
Section: Chapter Questions
Problem 5AA
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Give typing answer with explanation and conclusion
According to classical economists, instead of mercantilism, which says countries should produce everything themselves, what should countries do?
a. Use tariffs to protect local industries
b. Create an organization that dictates how countries should trade
c. Specialize in producing what they are good at producing, and import other goods
d. Engage in trade wars to try to gain an advantage
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