- From the first e-Activity, recommend countries that the debate team in the video should partner with to swap products. Also, provide a recommendation in regard to the products they should be trading. Support your reasoning.
- Take a position of whether you agree or disagree with the following statement: When the food production is at a peak in a country, food prices should drop so that poorer countries can import more food. Provide evidence to support your position.
- From the second e-Activity, determine the effect that the phenomenon of a stronger dollar has on the prices of U.S. goods overseas. Describe the selected countries, the selected good, and the price of the selected good. Consider your purchasing decision-making behavior and propose how you would extrapolate that behavior to being a purchasing agent for a nation.
- From the third e-Activity, examine how having a common monetary system helps to ease trade. Predict whether or not the members of the NAFTA will move to a common monetary system. Support your position with reasons why this would or would not be successful.
- Watch the video titled “The global food crisis: What is the role of trade?” . http://www.youtube.com/watch?v=sKS9ltKywv4&feature=youtu.be Next, use the Internet to explore countertrade agreements as an option to the food crisis.
- A stronger dollar decreases the amount of exports from a country, because they appear more expensive to foreign consumers. Therefore, a trade deficit develops as the result of a strong dollar. The opposite effects result from a weak U.S. dollar. Use the Internet to research countries that have weak and strong monetary systems. Choose one country that has a weaker monetary system and one country that has a stronger monetary system. Then, use the Internet to locate the price of a common consumer good (such as paper towels) in the U.S. Next, go to Xe’s Website ( http://www.xe.com/currencyconverter/ ) and use their online currency converter to determine how much the selected common good can be purchased for in each of the selected countries.
- The Euro is the second largest monetary system after the dollar. Go to the European Commission’s Website ( http://ec.europa.eu/economy_finance/euro/index_en.htm ) and examine and what the European Commission has to offer its members. Also, examine how having one common monetary system works well for Europe. Be prepared to discuss.