ECO 372 Week 5 Individual Assignment International Trade and Finance Speech
Assume that you have been appointed as the Speaker of the House. You must deliver a speech about the current state of the U.S. macroeconomy to a number of amateur reporters who are unfamiliar with economics.
Prepare a 750- to 1,050-word speech in simple terms and concepts that focus on international trade and foreign exchange rates.
Copy and paste the following questions to an MS Word document, then post your answer to each question directly below that question. To distinguish the questions from your answers, use a blue font for the questions and a black font for your answers. Be sure you justify you contentions with creditable sources including, but not limited to, the course text, peer reviewed articles from the University Library, and government web sites.
· What happens when the dollar-value of goods and services imported into the U.S. exceeds the dollar-value of goods and services exported from the U.S. to other countries? Cite a specific example of a good or service that is imported into the U.S. in greater dollar values than is exported from the U.S. and discuss the affects on U.S. businesses and consumers when imports exceed exports for that specific good or service.
Hint: Some goods/services, such as tourism-related services are both imported and exported, while other goods and services are only imported, such as bananas, or only exported.
· What are the effects of international trade on GDP, on domestic markets and on university students?
· How do government choices in regards to tariffs and quotas affect international relations and trade?
· What are foreign exchange rates? How are they determined?
Why doesn’t the U.S. simply restrict all goods coming in from China? Why can’t the U.S. just minimize the amount of imports coming in from all other countries
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