Research and analyze the US trade deficit. Answer the following questions.
- How large is the US trade deficit (relative to GDP)? 4 Points
- How has the trade deficit changed recently? Why? 4 Points
- Do you expect this trend to continue? 4 Points
- Is this trade deficit a bad thing or a good thing, and why? 4 Points
- Describe what would happen if we implemented more trade protection (tariffs, quotas, VERs) 4 Points
GDP data is available from the Bureau of Economic Analysis:
Note: Your assignment must be in expository essay form, comply with APA style formatting, be 3-7 pages long (not counting cover and references pages), and in MS Word.