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  • It is always better to allow trade and compensate those who are hurt by it than to ___________ the trade #231
  • The year of birth of the modern neoclassical theory of Economic Growth is #232
  • Movement to foreign will reduce the Home labor force and thus raise the real wage in Home, while increasing the labor force and reducing the real wage in ______________ #233
  • The surplus or deficit resulting from the sum of the balance on goods and the balance on services is known as the _____________. #234
  • The ultimate result of the collection of trade figures is a net total known as __________________. #235
  • The objective for trade balances objective is to achieve ____________ or sufficient surpluses to pay off a country’s debts #236
  • A country whose balance of payments shows consistent deficits is said to be in ‘______________. #237
  • A country with a ____________ in its balance of payments is said to be a ‘creditor nation’. #238
  • If a country incurs a deficit in its balance of payments, it is said to be a ______________ because it has spent more than it has earned. #239
  • Protectionism refers to government policies that ____________ international trade to help domestic industries. #240
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