International Trade and Finance Speech
As the speaker of the house this speech that I am about to give is to help educate you about the current state of the U.S. macroeconomy. Hopefully when I am done with my speech you will all have a better understanding of our current state. In order to understand the state of the U.S. macroeconomy it is important to understand international trade. In order to understand international trade it is important to recognize what the effects of international trade have on GDP. International trade is very important when there are two or more countries that exchange good with each other. The way that foreign exchange rates are determined is not much different from any other market function. The supply and demand for different goods is determined by what their price is. The goods that we receive that have been imported from other countries around the world is a result of what is called a surplus that way it slows the economy to help offset the deficiency. Imports of goods and services is what represents the value of all goods and other market services that is being received from the rest of the world. Gross domestic product or (GDP) is the total dollar value of all goods and services that are being produced over a specific time period and this is the actual size of the economy. An example of international trade to GDP would be say the United States and Mexico and the United States demand for Mexican imports increased all of sudden.