ABSTRACT
THE foregoing chapters have merely outlined the way in which, on our simplifying assumptions, various acts of policy-either of commercial policy or of transfers in the balance of payments between the two countriescould be depicted geometrically. The student who so wishes can now use this technique for assessing the desirability of various types of economic policy. But for this purpose the trade-indifference curves must be used in one way or another to assess economic welfare.
