“The wages in Mexico are significantly less than those paid in Canada. Therefore, Canada will gain...
“The wages in Mexico are significantly less than those paid in Canada. Therefore, Canada will gain from trade with Mexico, but not the other way around." True or false? Explain.
Homework Answers
International trade is conducted based on the comparative advantages. Canada can buy cheaper products from Mexico since wages are low over there. but similarly,, Canada can export capital intensive products to Mexico. Hence, both countries would be benefited from trade.
Right: This is false statement.
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