CAS EC 102 Lecture : EC102 Lecture 16 Notes
6
CAS EC 102 Full Course Notes
Verified Note
6 documents
Document Summary
Top 10 countries w/ which the us traded in 2016. Total volume of trade = exports + imports. Trade balance = exports - imports: china, canada, mexico, japan, germany, south korea, uk, france, india, taiwan. Nx measures the imbalance in a country"s trade in goods and services. Trade deficit: an excess of imports over exports. In 2015, exports = . 1t, imports=. 7t, leading to a deficit of b. Trade surplus: an excess of exports over imports. Tastes and preferences of people abroad for our goods and services. Strong dollar is good for us if we want to travel abroad or are buying imported goods. Strong dollar is bad for domestic exporters. Stronger dollar better for domestic consumers because they can buy more for cheaper. E inc = x dec, im inc -> (x-im) = dec -> nx dec. E dec = x inc, im dec -> (x-im) = inc -> nx inc.
