What determines which good country should produce and export

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Reference no: EM132481965

Research and Answer the following questions:

Question 1: What are the major U.S. exports and imports? How does international trade affect U.S. consumption possibilities?

Question 2: What determines which goods a country should produce and export?

Question 3: What is the World Trade Organization (WTO) and how does it help foster multilateral trade?

Question 4: 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?

Reference no: EM132481965

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