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Assignment_4 EC 201 (Section 2 and 5)

Topic: Trade and Protectionism

Due Wednesday, December 4, in class (Bring a physical copy)

Instructions: Read the chapter from Naked Economics, Trade and Globalization. Answer the questions in your own words. Follow the Assignment Rubric.

1.         According to the author, the U.S. has much to gain from an open, international trading system and that a rich and rapidly growing India is good for the US. Why does this statement meet with such negative responses? (YOU SUCK!)

2.          Construct arguments in favor of and opposed to trade barriers and protectionism.

a.                Do trade sanctions work? 

b.                How does free trade raise the incomes of consumers?

3.                How does trade benefit poor countries? Which country(s) have developed in the modern era without trade?