Production costs and the business cycle

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The President signs a free-trade agreement between the United States and Brazil. Please write a three-paragraph essay describing its effect on prices for food, housing, and oil. Remember that the future is always uncertain, so there is no right answer. Make your best guess as to what might happen in each case based on economic concepts. Pay particular attention to how consumer demand would change, and how the event would affect production costs and the business cycle.

Reference no: EM131396006

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