18.3 Flaws in the Democratic System of Government

442

Key Terms

446

Key Concepts and Summary

446

Self-Check Questions

446

Review Questions

447

Critical Thinking Questions

447

Problems

448

CHAPTER 19
International Trade
Introduction to International Trade

449

449

19.1 Absolute and Comparative Advantage

450

19.2 What Happens When a Country Has an Absolute Advantage in All Goods

456
19.3 Intra-industry Trade between Similar Economies

461

19.4 The Benefits of Reducing Barriers to International Trade

464

Key Terms

466

Key Concepts and Summary

466

Self-Check Questions

466

Review Questions

467

Critical Thinking Questions

468

Problems

469

CHAPTER 20
Globalization and Protectionism 471
Introduction to Globalization and Protectionism

471

20.1 Protectionism: An Indirect Subsidy from Consumers to Producers

472

20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions

479

20.3 Arguments in Support of Restricting Imports

482
{"file_name": "Microeconomics3e.pdf", "file_size_mb": 26.99, "title": "Principles of Microeconomics 3e", "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "producer": "Prince 14.2 (www.princexml.com)", "moddate": "2022-12-07T14:23:05-06:00", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "uploaded_via": "batch_uploader", "creator": "PDFMiner", "batch_upload": true, "file_type": ".pdf", "total_pages": 597, "creationdate": "2022-12-07T14:15:44-06:00", "upload_timestamp": "2026-02-07T15:37:44.339247"}