ECO 372 Week 5 Individual 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.

 

Integrate  a summary of your answers tothe following questions and cite external research to further justify your facts:

 

·        

What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.

 

·         What are the effects of international trade on GDP, domestic markets and 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?