What is a multinational firm? Please describe the theory of international trade that you can only consume what you can produce without trade and you can consume more than you produce with trade? What happens to the US dollar value of the UK pound if the US$/UK rises? The US dollar price of the euro rose from $1.15 to $1.30 - please explain using the demand and supply graph for a foreign currency and explain what is the main cause of changes in D and S. 2. Please show and explain the balance of payments equation. Does the US balance of payments have a deficit or surplus? Please explain. If China has a trade surplus, then how do they have a deficit in their capital account? The US had an estimated trade deficit of $948.1 billion in 2022. Please explain in the context of the international macroeconomic model (e.g., what is their GDP v