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Question 1. Consider four countries, U.S., China, Belgium and Luxembourg, where U.S. and China are considered large and Belgium and Luxembourg small. a. Explain what

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Question 1. Consider four countries, U.S., China, Belgium and Luxembourg, where U.S. and China are considered large and Belgium and Luxembourg small. a. Explain what is meant by a trade war. b. Which of the two countries are most likely to engage in a trade war ? Explain using the concept of Nash equilibrium and provide some intuition for your

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