Macroeconomics Why trade is good for you

Question

Instructions
Please read
- the Eye on the U.S. Economy section “No One Knows How to Make a Pencil” on pg. 75 in the textbook, and
- the article from The Economist “Why trade is good for you” in the .pdf format attached below:

/content/enforced/290035-OFR_ECO2013_2480_0595/Why-trade-is-good-for-you-The_Economist.pdf

Then, compose a short essay by answering the following questions in a meaningful manner:

Q1: Explain how countries gain from specialization and trade.
Q2: Answer whether - according to Ricardo’s theory - specialization and trade play a significant part in globalization.

Include examples from the readings to support your paper of 600 words minimum and to receive full credit for the assignment.


Please follow the guidelines below for submitting your paper:

1. Write the short essay in MLA format.

2. Name your document file by adhering to this specific structure:
i.e., John Smith Discussion Topic 1 will name his document as: smithj_DT1.doc
or smithj_DT1.docx