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As a result of a new economic integration agreement between three Latin American countries the total trade expansion effect was estimated as $100 million dollars.
As a result of a new economic integration agreement between three Latin American countries the total trade expansion effect was estimated as $100 million dollars. Economic analysis showed that the value of trade created among member countries amounted to $85 million. What was the value of trade diverted from non-member countries? Question 56 options: 1) $185 million 2) $100 million 3) $50 million 4) $75 million 5) $15 million
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