1.Explain the effects of international trade barriers. 2.Explain and evaluate arguments used to justify restricting international trade. 3.Describe a country’s balance of payments accounts and explain...

1.Explain the effects of international trade barriers. 2.Explain and evaluate arguments used to justify restricting international trade. 3.Describe a country’s balance of payments accounts and explain what determines the amount of international borrowing and lending. 4 Explain how the exchange rate is determined and why it fluctuates 5. Explain which of the following items are
not
consumption goods and services:

• A chocolate bar • A ski lift • A golf ball