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Knowledge about International Trade

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Describe how international trade affects the U.S. economy. Please provide references.

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International trade effects are highlighted in the solution.

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International trade represents a significant share of GDP in U.S like in the other countries and helps U.S to specialize in the goods and services it produces best and most efficiently. The willingness to trade is an essential source of prosperity. An important portion of international trade in U.S is conducted by multinational firms. Today many of these U.S firms are specialized in the manufacture and export of sophisticated capital goods and scientific equipment. Besides high-tech companies, including software developers and online service providers, are world leaders in their fields. Movie and ...

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