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Question 5:7.5 A)What is Net Export (NX)? How to calculate NX? What do you think would happen to Bangladesh's net exports if the following situations

Question 5:7.5

A)What is Net Export (NX)? How to calculate NX? What do you think would happen to

Bangladesh's net exports if the following situations happen -

a. India experiences a recession

b. Bangladeshi consumers decide to be patriotic and buy more local products

c. Prices of goods produced in India rise faster than prices of goods produced in Bangladesh.

B)One of the principles of Economics is that - "Trade can make everyone better off." How do you think this would apply on a Closed Economy and an Open Economy? Discuss the impact in details.

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