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Economics: Foreign Trade
Beginning of paper
a) Explain what is meant by a Current Account Deficit and why is it considered 'bad' to have an increasing CAD?
The Current Account Deficit generally means that our nation is spending more than it earns. This means that we have to borrow from other countries in order to pay for the things we purchase (imports). When we borrow from them w .... Middle of paper
.... of the exchange rate, freight and tourism and international competitiveness.
The first reason is the fact that interest rates on existing debt are high as well as the fact that we don't save enough, adds a considerable cost onto the final debt. Higher interest rates drive us further into debt than we began with, leading to a greater debt.
Second is worsening of terms of trade. When import prices rise faster than export prices, the terms of tr ....
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Number of words: 861
Number of pages: 4 (approx. 250 words per double-spaced page)
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