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    Interdependent Trade

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    Most countries are interdependent where trade is concern. We all depend on each other. Should America aim to be self sufficient in the production of goods and services, rather than depending on other countries for trade?

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    No. America should not strive to be self sufficient in production of goods and services. As per the theory of comparative advantage a firm should only ...

    Solution Summary

    The solution is concise and to the point and explains the concepts very well. The solution is very easy to understand as well. Overall, an excellent response to the question being asked.