Macro & Micro economics

 

Watch this video – http://www.youtube.com/watch?v=2i9i0rWz0aM

QUESTION 1
Define a Trade surplus and a Trade deficit. Summarise the key points the video presents about China’s trade surplus and the US’s trade deficit.

QUESTION 2
Research and explain the causes of the US Trade Deficit – (in general not only with China). In your opinion does this deficit show the strengths or the weaknesses of the US economy? Explain. (Support your answer with data that shows the relationship between the deficit and the strengths and weaknesses you identify). What measures would you recommend them to take to reduce their trade deficit? (Support your ideas with data about the effectiveness of these measures in the USA or in other countries).
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