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International Economics

International Economics. Some Key Facts and Concepts. The X – M Portion of AE. Trade deficit – imports > exports Trade surplus – exports > imports. Major US Exports. Chemicals Consumer durables Agricultural products Household Appliances Computers Petroleum Metals Automobiles.

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International Economics

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  1. International Economics Some Key Facts and Concepts

  2. The X – M Portion of AE • Trade deficit – imports > exports • Trade surplus – exports > imports

  3. Major US Exports • Chemicals • Consumer durables • Agricultural products • Household Appliances • Computers • Petroleum • Metals • Automobiles

  4. Major US Imports • US imports some goods that it already import • Automobile • Computers • Chemicals • Semiconductors • Telecommunications Equipment

  5. Canada & United States 2005 24% of American Exports to Canada 2005 17% of American Imports from Canada

  6. United States and China Trade Deficit: 202 Billion in 2005

  7. Foreign Oil 2005 import $125 B of goods (mainly oil) from OPEC Export $31 B to OPEC

  8. US is world leader in volume of X & M Germany, US, China, Japan and France are the top 5 exporters

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