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Why do nations trade? Analyze American imports and exports.

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Countries trade due to the principles of comparative advantage which tell us that if one country is more efficient at producing one good than another it will benefit from trading with another country that also has different efficiencies. This holds true even in the event of absolute advantage, where one country has an advantage in efficiencies for every single ...

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The expert determines why nations trade. An analysis of American imports and exports are provided.