题目内容
According to the mercantilists, a nation's welfare would improve if it maintained a surplus of exports over imports.
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The mercantilists maintained that a free-trade policy best enhances a nation's welfare.
The mercantilists contended that because one nation's gains from trade come the expense of its trading partners, not all nations could simultaneously realize gains from trade.
According to the price-specie-flow-doctrine, a trade-surplus nation would experience gold outflows, a decrease in its money supply, and a fall in its price level.
The trade theories of Adam Smith and David Ricardo viewed the determination of competitiveness from the demand side of the market.
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