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THE RICARDIAN MODEL
SPECIFIC FACTORS AND INCOME DISTRIBUTION
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aggregate demand analysis asset markets balance of payments capital causes central bank Chapter consumers consumption cost country's current account deficit demand curve depreciation determined DM deposits dollar deposits dollar/DM exchange rate domestic-currency economies of scale economists economy's effect equal equation equilibrium example exchange-rate expected future factors of production fall Figure fixed exchange rate foreign assets foreign-exchange market free trade future exchange growth Home Home's import quota increase industrial policy infant industry argument inflation interest parity condition international trade intervention investment Japan labor long-run macroeconomic marginal product market failure monetary approach money supply monopolistic competition multinational national income nontradables output percent price level price of cloth production possibility frontier raises rate of return real exchange rate real money demand relative PPP relative price relative supply reserves rise sector sell shift short-run shows tariff terms of trade theory trade policy transactions United wage rate workers