Q1) What are the difference in assumptions between Microeconomic and Macroeconomic Analysis? Q2) Given that trade theory is a branch of Microeconomics what questions is it suited to answering and what questions can't it answer? Q3) At an aggregate level, is Australia a small country in terms of international trade? Q4) Why are tariffs inefficient? Q5) What are the similarities and differences between an import quota, an import tariff and a production subsidy? Why might nations choose each one of these options? Q6) In trade theory, why are export taxes and import taxes equivalent?