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The theory of comparative advantage shows that the gains from international trade do not just result from the absolute advantage of producing at lower cost, but also from pursuing comparative advantage and producing at a lower _______.
Student Loans
Financial borrowings aimed at financing higher education expenses, which must be repaid by the borrower.
Interest Rate
The part of a loan charged as interest to the borrower, typically demonstrated as an annual percentage of the unsettled loan portion.
Monthly Payment
A regularly scheduled payment that is often used to repay loans over a specific period of time.
Lump Sum
A single payment made at a particular time, as opposed to several smaller payments or installments.
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