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How global trade is occurring

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Reference no: EM131885022

Problem

In 75 to 150 words or more answer the following questions.

Globalization and global trade have led to increased competition in world markets and increased efficient allocation of scarce resources.

Is it accurate to say that this is contributing to increased consumer surplus and reductions in inflationary pressures?

If yes, how (explain using economic concepts and terms how it is occurring)?

Reference no: EM131885022

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