Figure 8.1 depicts the supply and demand schedules of calculators for Greece,a "small" country that is unable to affect the world price.Greece's supply and demand schedules of calculators are respectively depicted by SG and DG.Assume that Greece imports calculators from either Germany or France.Suppose Germany is the world's low-cost producer who can supply calculators to Greece at $20 per unit,while France can supply calculators at $30 per unit.
Figure 8.1.Effects of a Customs Union
-Consider Figure 8.1.Suppose Greece had formed a customs union with Germany,rather than France.The value of the trade diversion effect would be:
Definitions:
Intimate Partner Violence
A pattern of abusive behavior in any relationship that is used by one partner to gain or maintain power and control over another intimate partner.
Proxy Measure
An indirect measure or indicator that approximates or represents a phenomenon in the absence of a direct measure.
Correlated
Indicates a mutual relationship or connection between two or more things.
Refugee Women
Female individuals who have been forced to flee their country due to war, persecution, or natural disaster.
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