Question: Suppose that country I and trading partner country II decrease their willingness to trade at the same time. What will be the impact on the

Suppose that country I and trading partner country II decrease their willingness to trade at the same time. What will be the impact on the terms of trade and on the volume of trade? (Note: You will not be able to say anything concrete about one of these impacts. Why not?)

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Suppose that country I and trading partner country II decrease their willingness to trade at the same time. What will be the impact on the terms of trade and on the volume of trade?

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