Question 2 In a short essay, discuss the theory of absolute advantage and the reasons a country's efficiency improves based on this theory. Question 3 Identify the theory where the countries export more than they import and, if successful, receive gold from countries that run deficits. Explain the main problem of this theory.

Question 2 In a short essay, discuss the theory of absolute advantage and the reasons a country's efficiency improves based on this theory. Question 3 Identify the theory where the countries export more than they import and, if successful, receive gold from countries that run deficits. Explain the main problem of this theory.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Open-economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 1CQQ

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