In 2014, the United States' balance-of-trade deficit with China was about 10 times as large as the balance-of-trade deficit with Canada. O a. True O b. False
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- When is a trade deficit likely to work out well for an economy? When is it likely to work out poorly?Many think that the size of a trade deficit is due to a lack of competitiveness of domestic sectors, such as autos. Explain why this is not true.Does a trade surplus mean an overall inflow of financial capital to an economy, or an overall outflow of financial capital? What about a trade deficit?
- Imagine that the economy of Germany finds itself in the following situation: the government budget has a surplus of 1 of Germanys GDP; private savings is 20 of GDP; and physical investment is 18 of GDP. Based on the national saving and investment identity, what is the current account balance? If the government budget surplus falls to zero, how will this affect the current account balance?Sketch a diagram of how a budget deficit causes a trade deficit. (Hint: Begin with what will happen to the exchange rate when foreigners demand more U.S. government debt.)For each of the following, indicate which type of government spending would justify a budget deficit and which would not. Increased federal spending on Medicare Increased spending on education Increased spending on the space program Increased spending on airports and air traffic control
- State whether each of the following events Involves a financial flow to the Mexican economy or a financial flow out of the Mexican economy: Mexico Imports sen4ces from Japan Mexico exports goods to Canada U.S. investors receive a return from past financial investments in MexicoExplain the relationship between a current account deficit or surplus and the flow of funds.How did large trade deficits hurt the East Asian countries in the mid 1980s? (Recall that trade deficits are equivalent to inflows of financial capital from abroad.)
- Assume an economy has a budget surplus of 1,000, private savings of 4,000, and investment of 5,000. Write out a national saving and investment identity for this economy. What will be the balance of trade in this economy? If the budget surplus changes to a budget deficit of 1000k with private saving and investment unchanged, what Is the new balance of trade In this economy?Why does the trade balance and the current account balance track so closely together over time?Assume a U.S. firm buys (imports) $5 million (in U.S. dollars) of foreign goods. That transaction by itself increasesthe trade deficit by $5 million. But, the $5 million will flow back to the United States to purchase either (i) U.S. goodsand services or (ii) U.S. assets.• How does the way the $5 million comes back to the United States determine whether there will be balancedtrade or a trade deficit?• How does the U.S. economy benefit from either transaction (the foreign purchase of U.S. goods and services[exports] or the purchase of U.S. assets)?