Transcript -- The Principle of Comparative Advantage
08/29/12 • -1 min
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The Impossible Trinity
The Impossible Trinity or 'trilemma' suggests that it is impossible for a country to maintain a fixed exchange rate, free capital movement and an independent monetary policy at one and the same time.
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The Principle of Comparative Advantage
David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at.
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