Eco 372 Week 5 Individual

International Trade and Finance

ECO372 - Macroeconomics

When there is a surplus brought into the United States there is excess of gross income over cost. Domestic and foreign businesses compete for sales in the country. Due to the standard of living production in most cases is cheaper overseas. It needs to be balanced in order to keep domestic businesses going and only allowing so much of an import into the country. With a surplus of an important product it can keep the price of goods down. The plus side to having a surplus of imports is it can generate jobs and create more work for citizens of the country. With cheap supplies means more room for companies to expand and grow. The United States imports billions of dollars of seafood each year. The fish are farm...