Often, as economists, we are interested in measuring how expensive imports are compared to the price received for exports. The…
Suppose the government imposes a tariff on all imports
In this post we want to analyse the effects of the government imposing a tariff on imports. We will analyse what…
international trade: production possibility frontier, unit labor requirements and relative prices
I believe the best way to understand production possibilities frontier, unit labor requirements and relative prices is with an example.…