How do the static welfare effects of trade creation and trade diversion relate to a nations decision

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How do the static welfare effects of trade creation and trade diversion relate to a nation’s decision to form a customs union? Of what importance to this decision are the dynamic welfare effects?

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International economics

ISBN: 978-8131518823

13th Edition

Authors: Robert J. Carbaugh

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Question Posted: Nov 14, 2012 03:35 AM

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How do the static welfare effects of trade creation and trade diversion relate to a nations decision

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The formation of a customs union results in static or onceandforall welfare effects Inclu...View the full answer

International economics

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