11. A relatively short list of inputsnatural resources, knowledge capital, physical capital, land, and skilled and unskilled...
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11. A relatively short list of inputs—natural resources, knowledge capital, physical capital, land, and skilled and unskilled labor—explains a surprisingly large portion of world trade patterns. However, the simple version of the theory of comparative advantage cannot explain why many countries import and export the same goods.
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Related Book For
Principles Of Microeconomics
ISBN: 9780691150093
13th Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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