Principles of Macroeconomics 7th Edition

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

Chapter 3 - Interdependence and the Gains from Trade - Questions For Review - Page 59: 5

Answer

Every economist knows that trade makes everyone better off because of comparative advantage and increased productivity beyond single country production. Thats why economists loathe restrictive trade policies.

Work Step by Step

This question asks you to think of economic ideology and apply it to a global scale and the impact of trade on other countries.
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