In 2017, the United States exported about $2.4 trillion worth of goods and services and imported about $2.9 trillion worth. This tells us that the US _________ in 2017 was about __________ trillion.

EXTRA Credit: Upload a PDF of your article that relates to course material.

If a country imposed a tariff on imported beef, what would be the effects on the country’s market for beef?

Read the statements and complete the acknowledgment certifying your agreement. I know where to locate the PDF course syllabus. I have downloaded the PDF course syllabus. I have read through the content in the PDF course syllabus.

Suppose banks generally maintain a reserve ratio of 20%, but one bank reduces its reserves by lending out $15,000. Calculate the maximum possible change to the money supply.

An American consumer purchases an iPhone manufactured in China. The Chinese company then uses the US dollars it receives to buy a Boeing aircraft from the United States for its cargo fleet. How will this transaction affect the US balance of payments? 

The capital account tracks payments for real and financial assets between nations and extensions of international loans. 

For which of the following goods and services does purchasing power parity likely not hold? 

An unseen benefit from trade is increased competition from foreign suppliers that force domestic firms to become more innovative and provide consumers with more options and greater variety. 

In the island nation of Talura, people have begun using dried cacao beans as money. These beans are used in local trade and prices are quoted in beans. However, beans are perishable and subject to rot or pest damage, and large transactions require bulky sacks of beans. Using the functions of money — medium of exchange, unit of account, and store of value — analyze whether cacao beans in Talura serve each of these roles effectively. Support your analysis with evidence from the scenario.