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Suppose there are three countries in the world. Country A exports $11 million worth of goods to country B and $5 million worth of goods to counrty C, country B exports $3 million worth of goods to country A and $6 million worth of goods to counrty C, and counrty C exports $4 million worth of goods to counrty A and $1 million worth of goods to country B.
a. What are the net exports of countries A, B, and C?
b. Which country is running a trade deficit? A trade surplus?
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france can gain specialization and trade as it recieves more than __________( 7lbs,1lb,4lbs,1/4lb,1/7lb)of fish per each bottle of wine it exports to austrailia.similarly australia can gain from trade as long as it recieves more then _______(4 blo..
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