Economics · International Economics
In a general equilibrium model of international trade, global equilibrium requires that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Each country must individually maintain a zero trade balance
- 2World excess demand for every traded good must equal zero✓
- 3All countries must adopt identical production technologies
- 4Factor prices must be equalized across all trading nations
Correct answer
World excess demand for every traded good must equal zero
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