Mercantilist View of Trade Surplus
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Japan has had an overall trade surplus in recent years. Economists suggest that this continuing phenomenon is due to several things, including an inappropriate exchange rate ans a failure of government policies to sufficiently stimulate the Japanese economy to import more.
How would a Mercantilist view this surplus?
Why might David Hume argue that the surplus will disappear?
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Solution Summary
Implications of a trade surplus
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Mercantilists believed that trade was a zero sum game. Whoever exported the most goods also imported the most gold, and was therefore the ...
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