Why Is It Likely That the United States Has an Absolute

question 151

Essay

Why is it likely that the United States has an absolute advantage in goods and yet it still ends up importing them from other countries?

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Definitions:

Language

is a system of communication used by a particular community or country, consisting of written, spoken, or signed words and the methods of combining them to create meaning.

Novation

A mutual agreement, between all parties concerned, for the discharge of a valid existing obligation by the substitution of a new valid obligation on the part of the debtor or another, or a like agreement for the discharge of a debtor to his creditor by the substitution of a new creditor.

Delegator

A person or entity that assigns tasks or duties to another party (the delegatee) while maintaining ultimate responsibility.

Obligation

A duty or commitment requiring an individual or entity to act in a certain way, often legally binding.