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Q. Given the opportunity to sell at world prices, the marginal (opportunity) cost of selling a ton domestically is what?
Answer: $5/ton.
Q. The migration model of Todaro and Harris provided an important theoretical critique of the manufacturing-biased import-substitution trade-policy stance. Illustrate. Answer:
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Q. Illustrate why Argentina, one of the world's richest countries at the begning of the twentieth century, has become progressively poorer relative to the industrial countries. [
The Arguments for Flexible Exchange Rates
Q. Explain the issues involved with the Fed acting as a lender of Last Resort (LLR). Answer: On the one hand LLR make possible the Fed to avoid panic and disturbance to
Explain Ohlin theory of International trade
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