ECO 204 INTERNATIONAL TRADE THEORIES, BALANCE OF PAYMENTS AND ITS ADJUSTMENT

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Meaning of International Trade

Reasons for International Trade

Classical Theories of International Trade

Assumptions of the Theory

Meaning of Balance of Payments (BOP)

Disequilibrium in the Balance of Payments

Measures to Adjust Balance of Payments

The Phillip's Curve

Policy Implication of the Phillip's Curve