Abstract This assignment consists of using a simulation from the week 5 eResource pertaining to international trade - advantages and limitations of international trade the country of Rodamia. The simulation provides some reasons for international trade, while it is my responsibility to determine which countries to trade with and what products to import and export. I will also determine when to impose trade restrictions like tariffs and quotas and when to negotiate trade agreements. Fiscal Policy …
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showed last 75 words of 1092 total
…the state of technology. Comparative advantage can change over time which is why the composition of a countries trade could change over time. Bilateral or multilateral trade agreements that reduce trade barriers among countries generally lead to increase benefits for all countries concerned. References Colander , D. (2004). Economics. 5th ed. Burr Ridge, IL: Irwin/McGraw-Hill. Applying International Trade Concepts Assessment Simulation, Retrieved April 27, 2006 from University of Phoenix website https://ecampus.phoenix.edu/secure/resource/resource.asp.