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Describing absolute advantage and comparative advantage

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Reference no: EM132337528

Question: Subject: Global Economics

Need 3 pages Paper on the below 5 ref, APA format 5 edition and turnitin.

Set up a Ricardo-type comparative advantage numerical example with two countries and two goods. Distinguish "absolute advantage" from "comparative advantage" in the context of your example. Then select an international terms-or-trade ratio and explain in some detail how trade between the two countries benefits each of them in comparison with autarky. When would either of your countries NOT benefit from engaging in trade? Explain.

Reference no: EM132337528

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