Why do economists oppose policies that restrict trade

Reference no: EM133276565

Questions -

1. Under what conditions is the PPF curve linear rather than being bowed?

2. Which is the more natural occurrence linear or bowed out and tell why?

3. Offer an example where a person has absolute advantage in doing something but another person has a comparative advantage.

4. Is absolute value or comparative advantage better for trade? Explain your reasoning in 3.

5. Why do economists oppose policies that restrict trade?

6. How might the Trump ideas on Fair Trade differ from what most economist think? What is retaliation? Do you think with some goods and services to keep manufacturing at home Fair Trade might work. Explain.

Reference no: EM133276565

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