Some economists argue that nations should pursue commercial advantages for their firms even if it means a misallocation of resources. They believe that by not following this policy, a country lowers...


Some economists argue that nations should pursue commercial advantages for their firms even if it means a misallocation of resources. They believe that by not following this policy, a country lowers its standard of living by not maximizing the value of national output. Explain the faulty logic of this argument.



Nov 15, 2021
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