InternationalTrade
– What are the major U.S. exports and imports? How does international trade affect U.S. consumption possibilities?
– What determines which goods a country should produce and export?
– What is the World Trade Organization (WTO) and how does it help foster multilateral trade? (Check the WTO website at http://www.wto.org/.)
– Firms hurt by cheap imports typically argue that restricting trade will save U.S. jobs. What’s wrong with this argument? Are there ever any reasons to support such trade restrictions?