Question: 1. Should imports to the United States be curtailed by, say, 20 percent to eliminate our trade deficit? What might happen if this were done?
2. When should a firm consider expanding from strictly domestic trade to international trade? When should it consider becoming further involved in international trade? What factors might affect the firm's decisions in each case?
3. How can a firm obtain the expertise needed to produce and market its products in, for example, the EU?