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ECO201 Macroeconomics: International Trade

#Unit 7 DB: International Trade

  • Choose two transactions that show international transactions with the import, export, net import, and net export impact on the United States economy.
  • Describe how those transactions (the ones the students decide upon) would affect US exports, imports, and net exports. With your peers discuss the importance of international trade.
  • Please use a presentation format complete with an introduction to global trade, good paragraph structure, and footnotes. Do not list bullet points.

 

#Unit 7 DB: International Trade 

  • The U.S. economy relies heavily on international trade. Choose two transactions at random that result from international trade; one where purchases are made from another country and one where the U.S. sends a product to another country. Identify the impact of each of these on imports, exports, net imports, and net exports at the time the transaction takes place.
  • For example, if you purchase a product online that is made in and shipped from Italy to you in the United States what is the effect on the U.S. economy in these four categories at the time of the transaction?
  • In addition, there has been a lot of news in recent years surrounding tariffs. Exactly what is a tariff and what is the impact of tariffs on international trade? Who pays the cost of tariffs?
  • Please present your explanation in a well-written narrative complete with an introduction to global trade, good paragraph structure, and footnotes. Do not list bullet points.

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