Pick ONE of the three options... Option 1: What does absolute advantage mean? How do you calculate absolute advantage? What does comparative advantage mean? How do you calculate comparative advantage? Does a country with the absolute advantage in the production of a good always have the comparative advantage producing that good? Explain your reasoning. OR Option 2: Should America encourage free trade with its trading partners or seek a more protectionist approach? Take a stand on this issue. Support your opinion with good economic reasoning. Who benefits from your approach and who loses? Why? Include impacts on both American citizens and the citizens of the other countries with whom we (U.S.) trade. If your home country is outside the U.S. indicate the possible impact of your stand (favoring either free trade or trade protectionism) on your country. OR Option 3: Would you rather travel abroad to a country in which the currency is appreciating or deprecating? Why? If you have traveled aboard, were you concerned about the exchange rate? Why or why not? Briefly share your experience with foreign currency