ECO 372 Week 5 Individual - International Trade and Finance Speech

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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 to the 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 to 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?

Preview:
International Trade and Finance Speech
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Today, we are going to talk about the economy and the importance of economics and how certain aspects affect the United States. We are also going to learn about different terms such as the Gross Domestic Product, surplus, and international trade as it relates to macroeconomics and the United States economy.
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