International marketplace system to allocate resources

Reference no: EM1340090

Comparative advantage on the production of a good

Evaluate the following statements:

a) The extensive application of protective tariffs destroys the ability of the international market system to allocate resources efficiently.

b) Foreign firms that "dump" their products onto the U.S. market are in effect providing bargains to the country's citizens.

Reference no: EM1340090

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