Principle of Economics.1

Principle of Economics.1

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Principle of Economics Name Affiliation

The United States is an industrial country that heavily relies on industries. It produces almost every kind of product. The decision of sustaining the globally free trade by the United States is purely justified. I do not disagree that policies of other countries including restrictive quota or their choice of labor for producing goods affect the gains made by the United States. However, I consider the key essence of Ricardian model as playing the key role in maximizing the gains achieved by the United States. The Ricardian model does not rely on the production cost; rather it relies heavily on the opportunity cost, which turns out to be significantly beneficial for the United States. Let us see the justification in greater detail...

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Excerpt from file: R u nn i n g he a d: PRINCIPLEOFECONOMCIS PrincipleofEconomics Name Affiliation 1 PrincipleofEconomics 2 The United States is an industrial country that heavily relies on industries. It produces almost every kind of product. The decision of sustaining the globally free trade by the United

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