Business
Business, 09.09.2020 19:01, gizmo50245

If a country’s PX/PY in autarky is less than the PX/PY on the world market, then, as the country moves from autarky to trade, the relative price of good Y will for home consumers. Thus, consumers with a strong relative preference for good would tend to oppose the movement to trade.

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If a country’s PX/PY in autarky is less than the PX/PY on the world market, then, as the country mov...

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