0.5 pts Which of the following statements is (are) correct about international trade and foreign exchange rates? Statement 1: The WTO is an international organization of member countries that oversees international trade agreements and rules on trade disputes. Statement 3: Protectionism is the government's use of tariffs, quotas, and other trade restrictions to protect domestic producers from foreign competition. A tariff is a tax on an import while a Quota is a limit on the quantity of a good that may be imported in a given time period. Statement 2: A strong dollar leads to a decrease in exports and an increase in imports. A weak dollar leads to an increase in exports and a decrease in imports. O Statements 1 is correct while statements 2 & 3 are false. O All statements are false. O Statements 3 is correct while statements 1 & 2 are false. All statements are correct