Absolute advantage and comparative advantage

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Reference no: EM131110347

Would like everyone to consider two very important concepts of economics this week: absolute advantage and comparative advantage. Both terms are critical, especially on a macroeconomic level. Countries must think about what they are going to produce and what they are going to outsource. Knowing the definition of both absolute and comparative advantage, do you believe that we should be outsourcing most of what we (as a nation) do?

Reference no: EM131110347

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