Is free trade based on competition

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Reference no: EM133269980

Assignment:

Based on Paul Krugman's Essay What Do Undergrads Need to Know about Trade? AER 83(2), 1993, answer all of the following questions:

1. What are the fundamental forces driving the majorityr of international trade?

2. Is free trade based on competition?

3. Why is productivity important for the welfare of countries?

4. What, according to Krugman, is the 'high-value sector' of an economy?

5. Will barriers to trade likely create jobs?

6. Will a domestic firms become competitive if the government protects it from international competition? What is the downside of protectionism?

Reference no: EM133269980

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