5. Trade can have different effects on incomes in the short run and in the long run. a. Explain the potential impact of trade on factor returns. Explain how trade impacts factor returns and explain who gains and who loses i. in the short-run. ii, in the long-run b. Economists tend to focus on the long run for policy implications while politicians and media are focused on short-run impacts, Explain why economists worry less about the short run, and focus on the long run