5) Much international trade is actually intra-industry trade; that is, a country will both export and import goods from the same industry. What are the potential economic benefits of intra-industry trade?

6) What do you think is the most valid reason for imposing trade restrictions? What is the most valid reason for reducing trade barriers? Give solid economic reasons for both of your answers. As a reminder, some of the common reasons often given for trade barriers include: Helping infant industries, preventing unfair trade, protecting domestic jobs, defending national security, responding to foreign trade restrictions