Please help with as many as possible. Thanks so much in advance!!

1) When import barriers are legislated, explain what happens to the producer surplus, the consumer surplus, and the deadweight loss.

2) If subjected to a referendum vote why would most import barriers be eliminated?

3) Who bears the cost of import barriers protecting a job where the industry employing labor does not have or has lost its comparative advantage? Consider the recent use of tariffs on imports of steel into the U.S.

4) It is possible that a nation could overproduce a product and exchange it for a good that another nation has overproduced. What is this arrangement called and what is its purpose/result?

5) Why is the PPF typically bowed-outward? Under what circumstances would the PPF be a straight line?

6) What does the balance of payments mean? What has the US position on trade been over the last 40 years? Has the US been running deficits or surpluses?

7) Describe the type of international monetary system that is currently in use. What advantages do proponents of this type of system cite in support of its use? What disadvantages do its opponents cite?

8) How does the balance of payments relate to international trade? Think of this in terms of the relationship between exchange rates and comparative advantage from an international trade perspective.

9) Suppose that China wants to fix its exchange rate for dollars below the equilibrium exchange rate. How does that benefit China? Does it harm anyone in China?

10) What is the upside to a depreciating US dollar? What is the downside? Consider this in terms of US domestic market (consumer and producer) and the Chinese domestic market (consumer and producer).