b. Different Climates
c. Human Capital
d. Acquired Comparative Advantage
e. Contrasting Views?
D. 32.2 The Determination of Trade Patterns
- The Law of One Price
- The Pattern of Foreign Trade
a. An Exported Product
b. An Imported Product - Is Comparative Advantage Obsolete?
a. The Role of Public Policy
b. The Importance of Modern Supply Chains - The Terms of Trade
E. Summary - 32.1 The Gains from Trade LO 1, 2
- 32.2 The Determination of Trade Patterns LO 3, 4
F. Key Concepts
G. Study Exercises - Fill-in-the-blank
- Review
- Problems
- 33 Trade Policy
A. Chapter Outline
B. Learning Objectives (LO)
C. 33.1 Free Trade or Protection? - The Case for Free Trade
- The Case for Protection