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1. Do multinational corporations (that operate in several countries) distort the "trade surplus/trade deficit" figures for the U.S. given that a portion of trade is intra-firm in nature? Explain why or why not.
2. If "free trade" advantages richer nation corporations to the disadvantage of poorer nation firms, is this a new form of "protectionism"? Explain why or why not. Note: You may need to access online sources to answer this essay.
3. Explain why "globalization" may well be related to "long-term household wealth" and the domestic "velocity of money" in the U.S. macro-economy.
Answers must be 1 page each and in APA format.
Explain why factors that are not part of the calculation of the Gross Domestic Product (GDP) can be important exclusions that have important meaning for understanding domestic macro-economics.
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