Discussion:
1. If a nation exported much of its output but imported little, would it be better or worse off? How about the reverse; that is, exporting little but importing a lot?
2. Domestic producers often base their claim for import protection on the fact that workers in country X are paid substandard wages. Is this a valid argument for protection?
3. What policies would Keynesians, monetarists, and supply- siders advocate for reducing unemployment