Why does international trade occur? What does it mean to run a deficit in the merchandise trade

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Why does international trade occur? What does it mean to run a deficit in the merchandise trade balance?

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Microeconomics A Contemporary Introduction

ISBN: 978-1111415921

9th edition

Authors: William A. McEachern

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Question Posted: Dec 12, 2015 05:18 AM

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Why does international trade occur? What does it mean to run a deficit in the merchandise trade

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International trade occurs because of comparative advantage and special...View the full answer

Microeconomics A Contemporary Introduction

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