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Abraham Lincoln once said It is better to buy American goods than to buy foreign goods, because when we buy American goods, we get the

Abraham Lincoln once said "It is better to buy American goods than to buy foreign goods, because when we buy American goods, we get the goods and our money stays here, but when we buy foreign goods, we get the goods but our money leaves the country." We know that Honest Abe was a pretty smart guy. But how good an economist was he? In particular, does the statement above make good economic sense? Explain why or why not.

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