Chapter 21

International Trade

This chapter addresses the interdependence of different nations through international trade, including the motives for trading rather than relying on domestic production and some implications for the relations among national monetary systems.

Begin the chapter

Overheads

Test your understanding -- Multiple-choice questions.

You Need To Know

Contents

  1. International Trade: Introduction
  2. The Theory of Comparative Advantage
  3. Extensions and Qualifications of Comparative Advantage
  4. The Price Specie Flow Mechanism
  5. Devaluation and Trade
  6. Chapter Summary and Conclusion
Next Chapter: A Simple Model of Aggregate Demand: Equilibrium

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