Go to www.census.gov/foreign-trade/balance/index.html, and obtain monthly balance-of-trade data for the last 24 months between the United States and the United Kingdom or a country specified by your professor. Create an electronic spreadsheet in which the first column is the month of concern, and the second column is the trade balance. (See Appendix C for help with conducting analyses with Excel. compute statement to derive the percentage change in the trade balance in the third column. Then go to www.x-rates.com (or another website that provides historical currency rates) and click on "Historic Lookup." Obtain the direct exchange rate (dollars per currency unit) for the British pound (or the local currency of the foreign country you select. Obtain the direct exchange rate for the currency at the beginning of each month and insert the data in column.
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