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The Essentials Of Economics

Questions1. What is efficiency Is it the only goal of economic policymakers 2. What are two types of market failure Explain why each may cause market outcomes to be inefficient.Chapter 9 Questions1.What does the domestic price that prevails without international trade tell us about a nation s comparative advantage
2. When does a country become an exporter of a good An importer
3. Describe what a tariff is and its economic effects.


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