3.State whether each claim is true or false and briefly explain why. a) Free trade is beneficial...
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Question:
3.State whether each claim is true or false and briefly explain why.
a) Free trade is beneficial only if a country is more productive than foreign countries.
b) Free trade with countries that pay low wages hurts high wage countries.
c) In the specific factors model, after opening up to trade, the change in welfare for the mobile factor is ambiguous
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