Life Skills MICROECONOMICS

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.

Your assignment is worth 15 pts, and each of the questions must have at least 200 words per answer  supported  and required by your textbook reference,  and at least one other reference from the “STATISTA” database from your FNU Library “LIRN”.  Please read my note below regarding using the “STATISTA” database. In addition your answers must prescribe to APA format (1 inch margins, double space, running head, page numbering, times roman font, size 12th pitch, indents at the start of every paragraph, references page hanging indents, in-text referencing).. You must submit a cover page, each question in a page by itself, and your references page must be also in a page by itself.  And, please do not forget to reference your in-text.

Your work will be submitted via “SafeAssign” which is software designed to detect “plagiarism”.. It is important that you review/edit your submission and maintain a 30% or lower matching before finally submitting it.

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)

NOTE

Your Assignment requires that you submit at least two references one from your textbook and from the database “STATISTA”

You will be able to access STATISTA database by going to your FNU Library “LIRN” (Access ID> 24439 / Password> FNUlibrary39):

– Once you have signed to LIRN

– Go to your Business section

– Select STATISTA

– Type the topic to be searched (As examples) type:

   – World Trade Organization

   – U.S. Exports to China

   – U.S. Imports from China

– You will get search results for your selection

  – Click on your selection and it will display information to be used on your assignment (Text, data, graphs, etc)

  – It will also give you a window for your citation (choose APA) and copy/paste on your assignment’s references page

An use the data from the reports to supplement your questions’ answers. Remember that at least this assignment requires one reference from STATSTA and alt least one reference from your course assigned textbook.  Not meeting these referencing requirements will result in a substantial deduction of points for your paper. If you are having problems in accessing STATISTA, I urge you to contact the FNU Library and request assistance with one of the Librarians which are knowledgeable and ready to assist you during the Library hours M-F 8 to 10 PM and on Saturdays from 10 to 5 PM.