1. Discuss the Gravity Model's core explanatory variables and their relationship to trade. Is the model able to accurately explain global trade? What do you think are some of the strengths and limitations of the Gravity model? 2. Briefly discuss the political economy of tariffs and quotas. Why do governments use them? How do their economic effects differ by economic actor? Are their impacts the same whether you are a large country or a small country? If so in what ways do they differ? Feel free to use examples from class or your reading. 3. Discuss Sameulson's conjecture about the potential gains from trade for an advanced developed economy when there is rapid technological progress in developing countries like China