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Based on Paul Krugman's Essay What Do Undergrads Need to Know about Trade? AER 83(2), 1993, answer all of the following questions: 1. What are

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Based on Paul Krugman's Essay What Do Undergrads Need to Know about Trade? AER 83(2), 1993, answer all of the following questions: 1. What are the fundamental forces driving the majorityr of international trade? {5 Marks) 2. Is free trade based on competition? 3. Why is productivity important for the welfare of countries? 4. What, according to Krugman, is the 'high-value sector' of an economy? 5. Will barriers to trade likely create jobs? 6. Will a domestic firms become competitive if the government protects it from international competition? What is the downside of protectionism

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