Your L/S Activity relates to chapter 19 (International Trade) You will be answering questions related to the purpose of Microeconomics and the applications of concepts for economic measurements.

Research and Answer the following questions:

– What are the major U.S. exports and imports? How does international trade affect U.S. consumption possibilities? (3 pts)

– What determines which goods a country should produce and export? (3 pts)

– What is the World Trade Organization (WTO) and how does it help foster multilateral trade? (Check the WTO website at http://www.wto.org/.) (4 pts)

– 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? (5 pts)

Use APA style and minimun 200 words for each question. I will add the references at the end just do the questions. Thanks.