World Trade and Payments: An Introduction |
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Contents
Introduction | 1 |
The Basic Trade Model | 9 |
Production Response and the Demand for Imports | 28 |
Copyright | |
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Common terms and phrases
abroad adjustment arbitrage assets autarky balance of payments capital flows cash balances Chapter commodity prices comparative advantage competitive consumers consumption costs country's covered interest arbitrage currency deficit devaluation disturbances dollar domestic price effect elasticity endowment equal equilibrium exchange-rate expenditure exports external balance factor prices factors of production Figure fixed exchange rates flexible exchange rates foreign country foreign exchange free trade free-trade growth Heckscher-Ohlin Heckscher-Ohlin model Heckscher-Ohlin theorem home country increase indifference curve industrial countries inflation inputs interest rate international reserves international trade isoquant Keynesian labor LDCs lower mobile monetary policy money supply nontraded offer curve output percent portfolio price level price of clothing price of food quantity real income reduced relative price rise sector shift short-run shown slope supply curve Suppose surplus tariff terms of trade trade balance transformation schedule U.S. dollars United wage rate welfare world markets world prices