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ECN 315 Macroeconomic Principles of Importing and Exporting Paper

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Colorado State University

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Running head: OPTION # 1 1
Option # 1
Adam Saran
ECN315 Welcome to Macroeconomic Principles
Colorado State University Global Campus
Rene Ryman
September 22, 2019

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OPTION # 1 2
Option # 1
Importing and exporting goods and services is one of the major driving forces behind any
market. The US economy is no different, the US takes part in global trade with many different
countries and markets. Supply and demand are one of the main driving forces behind trade.
While there are many benefits of importing and exporting goods that can benefit both the
supplier and the exporter. The idea of trade between nations seems straight forward however,
there are many different factors that have various affects on an economy as well as the wellbeing
of the residents in markets that rely on either importing or exporting goods between nations.
United States Exports
The ability for one nation to be able to produce goods that another country needs yet
cannot produce on their own is a great example of supply and demand trade deals. While the
USA is number one in a lot of different global statistics exporting goods is not one of them.
According to oec.world, 2019 the US is actually the third largest exporter in the world with over
$1.42T in exports in 2017 alone. This is a massively large number that is a contributing factor for
the US economy. The US exports many different goods such as cars, petroleum, and food and
beverages.
When broken down into individual amounts, you can clearly see which are the goods that
make up the biggest aspect of our exports in 2017. Food and beverage account for over one
hundred and thirty billion dollars. US crude oil is over one hundred and eight billion dollars,
ninety-nine billion in aircraft engines. The auto industry brings in over one hundred and thirty
billion dollars and over fifty billion dollars in pharmaceuticals (Isidore, 2018). With over two

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Running head: OPTION # 1 1 Option # 1 Adam Saran ECN315 Welcome to Macroeconomic Principles Colorado State University – Global Campus Rene Ryman September 22, 2019 OPTION # 1 2 Option # 1 Importing and exporting goods and services is one of the major driving forces behind any market. The US economy is no different, the US takes part in global trade with many different countries and markets. Supply and demand are one of the main driving forces behind trade. While there are many benefits of importing and exporting goods that can benefit both the supplier and the exporter. The idea of trade between nations seems straight forward however, there are many different factors that have various affects on an economy as well as the wellbeing of the residents in markets that rely on either importing or exporting goods between nations. United States Exports The ability for one nation to be able to produce goods that another country needs yet cannot produce on their own is a great example of supply and demand trade deals. While the USA is number one in a lot of different global statistics exporting goods is not one of them. According to oec.world, 2019 the US is actually the third largest exporter in the world with over $1.42T in exports in 2017 alone. This is a massively large number that is a contributing factor for the US economy. The US exports many different goods such as cars, petroleum, and food and beverages. When broken down into individual amounts, you can clearly see whi ...
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