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Recession Paper

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Submitted By 19ishmael
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Economics according to Chapter one of Macroeconomics (2010), is the study of how human organize needs and wishes, particular the decision-making mechanisms, social way of life, and political realities of the world (Colander, 2010). Macroeconomics is the study of the economy. It reflects on the issues of inflation, unemployment, business cycles, and growth (Colander, 2010). What happens where there is a surplus of imports brought into the U.S.? If there is a surplus of imports brought into the United States, impacts businesses and consumers. When imports are brought in that consist of goods and services, the cost of the goods will decrease and it will then create a balance of trade deficit. When imports are brought into the United States, the demand will decrease of U.S. goods and services. A specific example of a product with an import surplus is buying a house and trying to get the seller to reduce the price by $10,000. It would be simpler if the seller just sold the house at the price they are asking because the current buyer is not willing to pay full price.
What are the effects of international trade to GPD, domestic markets and university students?

How do government choices in regards to tariffs and quotas affect international relations and trade?

What are foreign rates? How are they determined? Foreign Rates are a conversion rate of one currency into another. The foreign rate can be analyzed by the local demand of foreign currencies of their supply and the demand model in the same form as another good can be (2010, Colander). Foreign rates are determined by the price of currencies (2010, Colander).

Why doesn’t the U.S. simply restrict all goods coming in from China? Why can’t the U.S. just minimize the amount of imports coming in from all other countries?

Reference
Colander, D.C. (2010). Macroeconomics (8th ed.).

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