1. Explain the difference between imports and exports?

1. Is the United States the world's largest importer or exporter? Why?

1. What country does the United States import the most goods from? (It is not China)

1. What types of goods does the United States Export?

1. What is the difference between a Trade Deficit and a Trade Surplus?

1. According to the Crash Course Economics Trade Deficits are not necessarily bad for the

Economy ? Why

1. What is the advantage of the Dollar gaining value compared to another country's currency-- What is the disadvantage?

Trade Questions from Chapter 17 page 620-635 and Mr. Clifford Video and Fish Power Point

1. Why do nations trade? Page 621
2. Would it be a good idea to stop trade between the states? Example should Iowa produce their own oranges and Florida to produce their own corn? page 621 and Mr. Clifford video

1. What happens when countries have an absolute advantage in the production of a product? Page 623

1. Why does Mr. Cifford think trade deficits are not that big a deal?

1. What are the advantages of free trade? Page 626 and Fish Power Point

1. What are the advantages of protectionism or Restricting International Trade page 630

1. What are the advantages and disadvantages of high taxes on imported cars do the United States

(PROTECTIONISM)

1. What are the arguments for and against NAFTA? (North American Free Trade Agreement)?