World Trade and Payments: An IntroductionRenowned for its precise, in-depth coverage of international trade and finance, this classic text features a balance of the latest research, critical policy issues, and sophisticated economic analysis. |
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Contents
THE INTERNATIONAL EXCHANGE | 11 |
PRODUCTION AND EXPANDED GAINS FROM | 30 |
APPLICATIONS OF THE BASIC TRADE | 52 |
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Common terms and phrases
abroad assets assumed assumption autarky balance of payments capital account capital flows capital mobility central bank Chapter clothing commodity competitive consumers consumption costs country's current account depreciation devaluation dollar domestic currency domestic price effect elasticities Equation example excess demand exchange market exogenous expenditure exports external balance factor Figure firms fiscal expansion fixed exchange rates floating exchange rates foreign currency foreign exchange foreign exchange market gains Heckscher-Ohlin theorem higher home country imports increase indifference curve industrialized countries inflation inflow interest rate international trade investment investors Keynesian labor LDCs LM curve lower marginal monetary approach monetary expansion monetary policy money supply monopoly output percent price level price of non-traded production raises real exchange rate real income relative price reserves rise schedule sector shifts short run slope surplus tariff terms of trade trade balance trade deficit transactions United variable wage welfare world prices zero