University of Maryland Economics Discussion

Description

Question 1: Answer the following questions using the BEA Tables for US International Trade in Goods and Services

Scroll down to the “U.S. Trade in Goods and Services, 1960-present” and download those spreadsheets. Using annual data from Table 1:

Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest tenth. %

Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest tenth. %

Question 2: Return to the BEA Tables for US International Trade in Goods and Service s. Scroll down to “U.S. Trade in Goods and Services by Selected Countries and Areas, 1999 – Present” and download those spreadsheets.

Using Table 1, to which three nations (not areas or regions) did the U.S. export the highest dollar value of goods and services in 2021?

Using Table 1, to which three nations (not areas or regions) did the U.S. export the highest dollar value of goods and services in 2017?

Question 3:

Using Table 2 from “U.S. Trade in Goods and Services by Selected Countries and Areas, 1999 – Present,” from which three nations
(not areas or regions did the U.S. import the highest dollar value of goods and services in 2021?

Question 4: In a few sentences, summarize your conclusions from the data analyzed on U.S. imports and exports over the last five years. Explain how the data reflect the economic principles you have learned.

Explanation & Answer:

3 pages

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