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Table 9-12
Output per hour Production and Production
of work Consumption without Trade with Trade
Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 9-12 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia gain compared to the "without trade" numbers?
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Eighteenth Century
The period from 1701 to 1800, marked by significant developments in arts, science, and politics, including the Enlightenment and the American Revolutionary War.
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A theory in political philosophy suggesting that the moral and political obligations of individuals are dependent upon a contract among them to form the society in which they live.
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