(9) At times in the historic past tariff barriers were relatively minor, and wit
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(9) At times in the historic past tariff barriers were relatively minor, and within many gions free trade was virtually achieved. Yet important differences in wages and other factor prices have persisted. How shall 5, Essay Questions (15' 2-30) (1) It is often said that developing countries have little to gain from integration projects among themselves because they trade very little with each other. What is the reasoning behind this view? Do you agree with the conclusion? Explain. (2) By reading the classic literature of international trade, do you find a general way of writing academic papers? What have you learned? (3) What is the main line of the development of international trade theory? re we account for this? (Topic 2)Explanation / Answer
9)
In historic past, tariffs were minor and free trade was virtually achieved. Following were reasons were responsible for differences in wages and other factors prices:
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