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(a)Describe the labor theory of value and the problems associated with the theory. (b)Are bilateral trade negotiations superior to multilateral negotiations? Include in your discussion

(a)Describe the labor theory of value and the problems associated with the theory. 


(b)Are bilateral trade negotiations superior to multilateral negotiations? Include in your discussion points that address the topic of Free Trade Areas.

 

(c)What is a transaction exposure? How do the firms limit the exposure of exchange rate? What are some of the strategies they use?


(d)Explain the Treatment of Priority and "Unusual "Cross Border Claims.

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