1. Discuss the differences between a tariff and a quota. Explain why quotas are considered to be a greater threat to competition than tariffs.2. Explain what economists mean when they say that the United States is a net debtor nation. Identify a potential problem and a positive aspect associated with this status.3. How can trade policy, fiscal policy, and monetary policy be used to support fixed exchange rates when there is a surplus of U.S. dollars?4. Explain what economists mean when they say that the United States is a net debtor nation. Identify a potential problem and a positive aspect associated with this status.5. State the case for and the case against currency bailouts.