Lesson2 and 3 provide insights into the role of comparative advantage in international trade and how it leads countries to specialize in and export goods and services they have a comparative advantage in and rely on imports from other countries for other goods and services. This underscores how interdependent the world economy is. Covid-19 disrupted economic activity across the globe, merchandise trade flows decreased significantly in 2020 ( https://cepr.org/voxeu/columns/2020-trade-impact-covid-19-pandemicLinks to an external site.). Many industries, such as the auto industry and the textile and apparel sector, that depend on trade have seen supply chain disruptions and shortages (chip shortage). Analyze how the various pandemic-related factors have shaped US trade, and how they affected consumer prices and the US economy. (Include concrete examples and provide your references).

1. Lesson2 and 3 provide insights into the role of comparative advantage in international trade and
how it leads countries to specialize in and export goods and services they have a comparative
advantage in and rely on imports from other countries for other goods and services. This
underscores how interdependent the world economy is. Covid-19 disrupted economic activity
across the globe, merchandise trade flows decreased significantly in 2020 (
https://cepr.org/voxeu/columns/2020-trade-impact-covid-19-pandemicLinks to an external site.).
Many industries, such as the auto industry and the textile and apparel sector, that depend on trade
have seen supply chain disruptions and shortages (chip shortage).
Analyze how the various pandemic-related factors have shaped US trade, and how they affected
consumer prices and the US economy. (Include concrete examples and provide your references)