 | Learning Objectives
(See related pages)
In this chapter you will learn:
- The graphical model of comparative advantage, specialization, and the gains from trade.
- How differences between world prices and domestic prices prompt exports and imports.
- How economists analyze the economic effects of tariffs and quotas.
- The rebuttals to the most frequently presented arguments for protectionism.
- About the assistance provided workers under the Trade Adjustment Act of 2002.
- How the offshoring of U.S. jobs relates to the growing international trade in services.
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