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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Many think that the size of a trade deficit is due to a lack of competitiveness of domestic sectors, such as autos. Explain why this is not true.

To determine

Is trade deficit is due to lack of competitiveness in domestic sector.

Explanation

The trade deficit is the one in which the inflow the financial capital is more due to more imports over export. It leads to increase in labor cost due to increase in imports...

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