Describe the four major economic flows that link the United States with other nations. Provide a specific example to illustrate each flow. Explain the relationships between the top and bottom flows in Figure 5.1 . FIGURE 5.1 International linkages. The U.S. economy isGoods and servicesintertwined with other national economies through goods and servicesflows (trade flows), capital and labor flows (resource flows), informationand technology flows, and financial flows.Capital and laborUNITEDOTHERSTATESNATIONALECONOMYECONOMIESInformation and technologyMoney

Due to the process of globalization, the movement of resources, as well as the exchange of various…

Answered: FIGURE 5.1 International linkages. The…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Describe the four major economic flows that link the United States with other nations. Provide a specific example to illustrate each flow. Explain the relationships between the top and bottom flows in Figure 5.1 .

FIGURE 5.1 International linkages. The U.S. economy is
Goods and services
intertwined with other national economies through goods and services
flows (trade flows), capital and labor flows (resource flows), information
and technology flows, and financial flows.
Capital and labor
UNITED
OTHER
STATES
NATIONAL
ECONOMY
ECONOMIES
Information and technology
Money

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