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Take a closer look at our local economy and pick a good or a service that you believe America has a comparative advantage in producing. Discuss the factors that you believe give America such advantage. In other words, why do we trade X commodity and not Y commodity?
Also, what are the benefits (or harms) of trade surplus (exporting more than importing) to the local economy? Is there a link between economic growth (increase in output level or GDP) and trade? If so, how?
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