5 Relative to the no-trade alternative, international exchange and specialization resu lt in lower prices for products
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5 Relative to the no-trade alternative, international exchange and specialization resu lt in lower prices for products that are imported and higher domestic prices for products that are exported. However, the net effect is an expansion in the consumption alternatives available to a nation.
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Related Book For 
Essentials Of Economics
ISBN: 396414
2nd Edition
Authors: James D Gwartney; Richard Stroup; J R Clark
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