Question

The economist paul samuelson analyzed a scenario in which r&d production suffers from foreign competition, thus lowering its price. samuelson notes that foreign competition in r&d will generally _____ the terms of trade and national welfare if the nation exports r&d.

Answer 1

The economist Paul Samuelson analyzed a scenario in which R&D production suffers from foreign competition, thus lowering its price. Samuelson notes that foreign competition in R&D will generally lower the terms of trade and national welfare if the nation exports R&D.