which of the following is a factor that drives the popularity of imports in the u.s.? course hero

by Rogers Pagac 8 min read

What are the major imports of the United States?

According to the 2019 data, more than 80% of U.S. imports are goods ($2.5 trillion). Capital goods ($678 billion) contributed 27% of all goods imported. Next comes consumer goods ($654 billion). U.S consumer spending is dependent upon these low-cost imported goods.

What percentage of US imports are consumer goods?

U.S. Imports According to the 2019 data, more than 80% of U.S. imports are goods ($2.5 trillion). 4  Capital goods ($678 billion) contributed 27% of all goods imported. Next comes consumer goods ($654 billion). U.S consumer spending is dependent upon these low-cost imported goods.

What happens when a country has a high import level?

For example, the United States suffered a recession when OPEC embargoed its oil exports. Third, countries with high import levels must increase their foreign currency reserves. That's how they pay for the imports. That can affect the domestic currency value, inflation, and interest rates.

Which is a significant contributor to America’s​ number 1 competitiveness ranking?

B.large investments in scientific research. C.widespread entrepreneurship. D.economic restructuring. Correct A.simplifying the federal tax code. America's strong investment in scientific research is a significant contributor to its​ #1 competitiveness ranking.

How can a trader develop a big picture sense of the flow of dollars?

A trader can develop a big picture sense of the flow of dollars and form an insight on how best to select profitable trading positions by watching the patterns on the chart and as mentioned above, listening to the major fundamental factors that affect supply and demand.

What factors influence the dollar's value?

In addition to fundamentals and technical factors, market psychology and geopolitical risk also influence the dollar's value on the world market.

What is the job of a trader?

Traders are tasked with gauging whether the supply of dollars will be greater or less than the demand for dollars. To help us determine this, we need to pay attention to any news or events that may impact the dollar's value. This includes the release of various government statistics, such as payroll data, GDP data , and other economic information that can help us to determine whether there is strength or weakness in the economy.

What factors affect the dollar?

In addition to fundamentals and technical factors, market psychology and geopolitical risk also influence the dollar's value on the world market.

Why did the government print money and sell bonds to foreign governments and investors?

In short, the government essentially printed money and sold government bonds to foreign governments and investors to increase the supply of dollars, resulting in the currency's depreciation. 5.

Why is the economy important to investors?

A strong economy will attract investment from all over the world due to the perceived safety and the ability to achieve an acceptable rate of return on investment. Since investors always seek out the highest yield that is predictable or "safe," an increase in investment, particularly from abroad, creates a strong capital account and a resulting high demand for dollars.

Why is the economy important?

The economy's performance is at the heart of the decision to buy or sell dollars. A strong economy will attract investment from all over the world due to the perceived safety and the ability to achieve an acceptable rate of return on investment.

What happens if a country imports more than it exports?

If a country imports more than it exports it runs a trade deficit. If it imports less than it exports, that creates a trade surplus. When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. 2  It's like a household that's just starting out. The couple must borrow to pay for a car, house, and furniture. Their income isn't enough to cover the necessary expenses that improve their standard of living.

What is the meaning of imports?

Imports are foreign goods and services bought by citizens, businesses, and the government of another country. 1  It doesn't matter what the imports are or how they are sent.

How do exports affect the economy?

First, exports boost economic output, as measured by gross domestic product. 3  They create jobs and increase wages. Second, imports make a country dependent on other countries' political and economic power. That's especially true if it imports commodities, such as food, oil, and industrial materials.

How does trade protectionism affect exports?

Countries often increase exports by increasing trade protectionism. That insulates their companies from global competition for a while. They impose tariffs (taxes) on imports, making them more expensive. 7  The problem with this strategy is that other countries soon retaliate. A trade war hurts global trade in the long run. In fact, this was one of the causes of the Great Depression. 8 

Why do companies export?

And finally, exports help domestic companies gain a competitive advantage. Through exporting, they learn to produce a variety of globally-demanded goods and services.

What happens when a country has a trade deficit?

When a country has a trade deficit, it must borrow from other countries to pay for the extra imports. 2  It's like a household that's just starting out. The couple must borrow to pay for a car, house, and furniture. Their income isn't enough to cover the necessary expenses that improve their standard of living.

What is import in 2020?

Updated August 28, 2020. Imports are foreign goods and services bought by citizens, businesses, and the government of another country. 1  It doesn't matter what the imports are or how they are sent. They can be shipped, sent by email, or even hand-carried in personal luggage on a plane. If they are produced in a foreign country ...

What is quota in imports?

Note: A quota is a quantity restriction on imports.

What is the ranking of Japan in 2004?

Note:On its 2004 World Competitiveness Scoreboard the IMD ranked Japan​ 23rd, at 71.915​ (or about​ 72% as competitive as the​ U.S.).

Is D.Trade important in the world economy?

D.Trade is not important in the world economy.

Do import restrictions elicit retaliation?

Answer D. Import restrictions will not elicit retaliation.

What is the term for the temporary sale of products in a foreign market at prices below cost to eliminate competitors in that?

false. The temporary sale of products in a foreign market at prices below cost to eliminate competitors in that foreign market is referred to as: predatory dumping.

What is the name of the international treaty established to negotiate lower trade restrictions?

false. The international treaty established to negotiate lower trade restrictions is known as the: General Agreement on Tariffs and Trade (GATT).

What is the difference between ad valorem tariffs and specific tariffs?

Ad valorem tariffs on imports are based on a percentage of an import's value, while specific tariffs are based on a lump sum per physical unit imported. International trade is most likely to occur whenever: each of the trading nations gains from trade. Differences in tastes among nations:

What should the protection granted to infant industries be?

According to some economists, the protection granted to infant industries should be: to protect emerging domestic industries. Economies of scale in the production of a good implies that: the long-run average cost of production falls as the scale of operation expands. Regional trading bloc agreements:

What are the three largest agricultural exports from the United States?

By dollar value, the three largest agricultural exports from the U.S. in the first three quarters of 2020 were soybeans ($16.1 billion), red meat products ($13.1 billion), and animal feeds and oil meal ($10.5 billion).

What Does the United States Trade With Foreign Countries?

Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. She is the President of the economic website World Money Watch. As a writer for The Balance, Kimberly provides insight on the state of the present-day economy, as well as past events that have had a lasting impact.

What is the fourth largest import?

The fourth-largest import category is automotive vehicles, parts, and engines ($376 billion). The food, feeds, and beverages category is next at $151 billion. As of the end of 2019, services make up 19% of imports ($597 billion). 5  The largest category is travel services at $134 billion.

Why are food exports falling?

Food exports are falling since many countries don't like U.S. food processing standards. That was a major block to the Obama administration's negotiation of the Transatlantic Trade and Investment Partnership .