Which of the following arguments for limitations on trade is more controversial among economists? Group of answer choices Limiting trade out of environmental concerns Limiting trade out of fear over losing jobs domestically Limiting trade to protect new industries Limiting trade to avoid unfair labor practices

Listen carefully to the podcast titled 'Is America losing faith in Free Trade?. What would help explain why support for trade liberalisation in places such as the United States has decreased in the past decade even though economists argue free trade is beneficial for the economy? The benefits and costs of trade are unequally distributed within society. The benefits of free trade tends to fall on people who are less well off, who either lose their jobs or lose wages to other countries which angers the wealthy investors. O The wage gap between high and low-skilled workers is closing which decreases levels of productivity. The benefits of free trade tend to fall on people who are less well off, who either lose their jobs or lose wages to other countries.

Identify which trade flows each international trade theory explains. Please choose at least one from trade partners, and one from industries Heckscher-ohlin theory  Trade partners: between two developed  or between developed and developing Industries: trade in the same industry or trade between different industries   New Trade theory Trade partners:between two developed  or between developed and developing Industries: Trade in same industry or trade between different industries   Product Life cycle theory trade partners: between two developed or between developed and developing Industries: trade in same industry or trade between different industries

According to the Heckscher-Ohlin model, free trade would lead to an equalization of wage rate internationally. Explain why we do not observe that result in the real world, where, for instance, there is great discrepancy in wage rate between developed and developing countries