ECO 372 Week 5 Final Exam

ECO 372 Week 5 Final
Exam

DQ 1. Explain how foreign exchange rates are determined. How do changes
in interest rates, inflation, productivity, and income affect exchange rates?
What are the advantages and disadvantages of a weak versus a strong dollar
for imports, exports, international and domestic markets? Please use a
current example of an exchange rate [Swiss Franc-Euro, US Dollar -
Japanese Yen, etc.] and describe how it affects the two [or more] countries
involved.
DQ 2. As was seen during the financial crisis of the 1930s, and in recent
history, markets are interconnected globally. Aside from financial markets,
different countries have different resources. Choose a country other than
your own, which has not already been selected by another student, and
research the EIU country data. Based on absolute advantage and
comparative advantage, explain the effect of global economic conditions on
the choices available to that country. You must include the current exchange
rate of the country’s monetary unit.
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DQ 3. Review the U.S. Trade Representatives website at
http://www.ustr.gov/trade-agreements/free-trade-agreements. Select a
country or trading bloc with which the United States has a current or
pending free trade agreement. What are areas of comparative advantage of
the United States and its trading partner? What are the benefits and
disadvantages specific to this free trade agreement?
‣ Individual Assignment
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. macroeconomics to
a number of amateur reporters who are unfamiliar with economics.
Prepare a 750- to 1,050-word speech in simple terms and concepts that
focus on international trade and foreign exchange rates.
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Integrate a summary of your answers to the following questions and cite
external research to further justify your facts:
• 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.
• What are the effects of international trade to GDP, domestic markets
and university students?
• How do government choices in regards to tariffs and quotas affect
international relations and trade?
• What are foreign exchange rates? How are they determined?
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• 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?
‣ Learning Team Assignment
Discuss within your Learning Team how and why the U.S.’s deficit, surplus
and debt have an effect on the following:
• Tax payers
• Future Social Security and Medicare users
• Unemployed individuals
• University of Phoenix student
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• The United States’ financial reputation on an international level
• A domestic automotive manufacturing (exporter)
• An Italian clothing company (importer)
• GDP
Write a 750- to 1,050-word paper summarizing the results.
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