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Eco/372 Week 5 Individual

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International Trade and Finance
ECO372 - Macroeconomics

When there is a surplus brought into the United States there is excess of gross income over cost. Domestic and foreign businesses compete for sales in the country. Due to the standard of living production in most cases is cheaper overseas. It needs to be balanced in order to keep domestic businesses going and only allowing so much of an import into the country. With a surplus of an important product it can keep the price of goods down. The plus side to having a surplus of imports is it can generate jobs and create more work for citizens of the country. With cheap supplies means more room for companies to expand and grow. The United States imports billions of dollars of seafood each year. The fish are farm raised and come from China According to U.S. Department of Agriculture (2010). The fish being imported are catfish, salmon, shrimp and tilapia. Too much of the imported fish can drive the prices down for our very own commercial fisherman that raise and catch the seafood domestically. Imports can mean cheaper pricing for consumers in America because it is cheaper to raise the seafood in China than it is in the United States.

International trade is good for a country and GDP. The surplus from the country’s exports versus imports will allow the country to import other products at a cheaper cost to the consumers. Consumer demand should increase because of the cheaper goods imported contributing to economic growth and GDP. For domestic markets the goods will bring in more revenue because it will be in demand. The more goods sold the more profit and taxes the country generate. The economy should grow and generate more jobs for university students having a bright future in the job market. A strong economy can led to more job creation when companies are able to expand.

The government...

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