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Study Questions: Chapter 3

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1. Why were turnpike roads considered an innovation?

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2. How do transnational corporations exert power within and between countries?

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3. The Bretton Woods agreement of 1944 led to the creation of which two important economic institutions? What was the purpose of each?

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4. What are the major factors affecting trade?

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5. What are the main differences between classical trade theory, neo-classical trade theory, and modern trade theory?

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