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Economics, 15/e
Campbell R. McConnell, University of Nebraska, Emeritus
Stanley L. Brue, Pacific Lutheran University
Chapter 6 The United States in the Global Economy
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Web-Based Questions
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Web-Based Questions
- Web-Based
Question: Trade balances with partner countries The U.S. Census
Bureau, at www.census.gov/foreign-trade/www/statistics.html,
lists the top trading partners of the United States (imports and exports added
together) as well as the top 10 countries with which the United States has
a trade surplus and a trade deficit. Using the current year-to-date data,
compare the top 10 deficit and surplus countries with the top 10 trading partners.
Are deficit and surplus countries equally represented in the top 10 trading
partners list, or does one group dominate the list? The top 10 trade partners
represent what percent of U.S. imports and what percent of U.S. exports?
- Web-Based Question: Foreign exchange rates-the
yen for dollars The Federal Reserve System website, www.federalreserve.gov/releases/H10/hist/,
provides historical foreign-exchange-rate data for a wide variety of currencies.
The information is based on data collected by the Federal Reserve Bank of
New York from a sample of market participants. Look at the data for the Japanese
yen from 1990 to the present. Assume that you were in Tokyo every New Year’s
from January 1, 1990, to this year and bought a bento (box lunch) for
1000 yen each year. Convert this amount to dollars using the yen-dollar exchange
rate for each January since 1990, and plot the dollar price of the bento
over time. Has the dollar appreciated or depreciated against the yen? What
was the least amount in dollars that your box lunch cost? The most?
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Interactive Graphs
Origin of the Idea
Analogies, Anecodotes, and Insights