Please respond to each and every question individually.
Problem 1. Is it possible for comparative advantage to change, and thus change the direction of trade?
Problem 2. What are the challenges of the international trading system? Explain, give examples and/or back up your answer with evidence.
Problem 3. Does factor price equalization occur in the real world? Explain, give examples and/or back up your answer with evidence.
Problem 4. What is the focus of the product life cycle theory, and where is it applicable?
Problem 5. Can import duties have unintended side effects? Explain, give examples and/or back up your answer with evidence.
Problem 6. What are some major trade problems faced by developing nations?
Problem 7. Does exposure to competition with the world leader in a particular industry improve a firm's productivity? Explain, give examples and/or back up your answer with evidence.
Problem 8. What are the essential arguments in favor of free trade?
Problem 9. Is it possible to estimate the gains from trade? Explain, give examples and/or back up your answer with evidence.
Problem 10. How can tariffs be justified?
Problem 11. What are the intent and impact of domestic content requirements?
Problem 12. What are the concerns with the U.S. Free Trade policy?
Problem 13. Explain the theory of optimum currency areas, for example, the European economic community.
Problem 14. What are the disadvantages of forming corporate joint ventures between multinational corporations in the home and host country?