Please refer to the following graph to answer questions #1 and #2.

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Given the following demand and supply for a particular product the U.S.:

Demand: P (US$)= 8 - Q_D

Supply:P (US$)=4 +Q_S

Please answer the following questions (no need to show explanation or calculation):

3.Assume there is no trade between the U.S. and the rest of the world.What is the equilibrium price for this product in the U.S.?

4.Suppose the world equilibrium price for this product is $5.Will the United States be an importer or exporter for this product in free trade?