International Economics

adjustment mechanism agricultural American amount assumptions balance of payments box diagram capital movements capital-intensive central banks Chapter comparative advantage consumers contract curve cost Country I's country's customs unions decrease deficit devaluation developed countries direct investments discussion dollars domestic economic growth economic policy economists effects elasticity factor intensities factor prices factor reversals factors of production Figure fixed exchange rates flexible exchange rates foreign exchange foreign trade free trade gains from trade gold Heckscher-Ohlin theorem implies import-competing income distribution increase indifference curve industrial countries inflationary innovation instance interest rate internal equilibrium international economics international liquidity international monetary system international trade isoquant labor-intensive larger lead Leontief Leontief paradox less-developed countries marginal productivity marginal propensity means national income offer curve output percent price level problem production function production-possibility curve quota relative price reserves supply surplus tariff technical progress terms of trade theorem theory of comparative trade balance trade policy wage wheat