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.
1.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.
2. What are the effects of international trade to GDP, domestic markets and university students?
3. How do government choices in regards to tariffs and quotas affect international relations and trade?
4. What are foreign exchange rates? How are they determined?
5. Why doesn’t the U.S. simply restrict all goods coming in from
6. China? Why can’t the U.S. just minimize the amount of imports coming in from all other countries?