What do we gain from trade

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Reference no: EM131000122

1. The US can produce more of almost everything (US has an absolute advantage in the production of almost all commodities). Yet we only produce some and trade with other countries. Why don't we produce everything? What do we gain from trade?

2. What do you know about NAFTA? Use the internet to gather some information about NAFTA and why and when it was started. Do you think NAFTA has been successful in its objectives? Why or why not? Make sure you clearly state the source of your information.

Reference no: EM131000122

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