Other Things Being Equal, a Rise in a Country's Terms

question 4

Essay

Other things being equal, a rise in a country's terms of trade increases its welfare. What would happen if we relax the ceteris paribus assumption, and allow for the law of demand to operate internationally?

---

Definitions:

Paper Towels

Absorbent disposable towels made from paper, used for drying hands, wiping surfaces, or cleaning up spills.

Fixative

A chemical substance used in microscopy and histology to preserve tissues or cells by stabilizing their structure.

Dissecting Tray

A flat, usually metal or plastic, tray used to hold specimens for dissection.

Ventral

Pertaining to the front or anterior part of an organism.