What may be some of the long term effects not addressed by general equilibrium analysis?

it’s better not have outside sources, each question write around 250 words

From the syllabus:
“You will be given 6 short essay questions after Thanksgiving break. Answers should be approximately 250 words (around two paragraphs). You may discuss the questions with each other before the exam, but your answers must be your own work. On the day of the exam, we will roll a pair of dice. On the exam form provided that day, you will write the answers to the two questions that match the numbers rolled.

1.Is a current account deficit something to be avoided? Explain.
2.Use the Ricardian Model of Comparative Advantage & the Heckscher-Ohlin Model to explain how both poor and rich countries can be better off when they specialize in production and trade with one another.
3.Using general equilibrium analysis, graph and explain the effects of a small country levying a tariff on a good. What may be some of the long term effects not addressed by general equilibrium analysis?
4.Explain the short and long term effects resulting from a country’s currency depreciating.
5.How has the subprime mortgage crisis in the United States affected international trade in the rest of the world?
6.Do policies correlated with economic growth also facilitate international trade? Explain.

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