Write an essay that addresses each of the following points:

1. Choose five U.S. government policies that affect trade with foreign nations. Identify three factors of production, and describe how their mobility is good or bad for U.S. trade

2. Distinguish between absolute advantage and comparative advantage trade theories and give examples

3. Choose either the TPP or the T-TIP free trade agreement and describe which other countries have signed on and why the U.S. Senate should ratify or not ratify the agreement. Also, explain how regional trading groups influence organizations.

The essay submission should be a minimum of three pages in length in APA style. You are required to use at least two scholarly sources for this essay. Your responses to the three prompts must be in paragraph form. Be sure to cite and reference all quoted or paraphrased material appropriately in APA style.

References

Attached readings

North American Free Trade Agreement. (2012). Frequently asked questions: What Is NAFTA. Retrieved from http://www.naftanow.org/faq_en.asp#faq-1

Organization of the Petroleum Exporting Countries. (n.d.). Brief history. Retrieved from http://www.opec.org/opec_web/en/about_us/24.htm

Porter, M. E. (1990). The competitive advantage of nations. New York, NY: Free Press.

Tverberg, G. (2016). Why oil under $30 per barrel is a major problem. Retrieved from https://ourfiniteworld.com/2016/01/19/why-oil-under-30-per-barrel-is-a-major-problem/

United Nations, Department of Economic and Social Affairs. (2015). World population prospects, the 2015 revision. Retrieved from http://esa.un.org/unpd/wpp/Download/Standard/Population/

United Nations Security Council. (2015). Sanctions. Retrieved from https://www.un.org/sc/suborg/en/sanctions/information

Holden, P. [pajholden]. (2008). Absolute and comparative advantage [Video file]. Retrieved from https://www.youtube.com/watch?v=Pd_qs8ueIWw