Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 1 - Ten Principles of Economics - Questions For Review - Page 17: 5

Answer

Trade among countries is not a game with some losers and some winners because trade can make everyone better off. By allowing specialization, trade between people and trade between countries can improve everyone's welfare.

Work Step by Step

Read about Trade in the section where it discusses its importance.
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