Buiter, Riccadonna on U.S. Jobs and the Trade Deficit

The video discusses the trade deficit, its impact on jobs, and the role of globalization. It highlights the potential effects of trade policies under the Trump administration and examines the state of employment and wage pressures in the U.S. The discussion also touches on the relationship between trade and budget deficits and their implications for job creation, emphasizing the need for economic literacy in understanding these issues.

What is one potential benefit of a globalized world mentioned in the discussion?

• Reduction in trade deficits

• Multinational companies benefiting

• Increased domestic job opportunities

• Higher domestic savings

What is a key indicator that the U.S. has reached full employment?

• A rise in unemployment rate

• An increase in wage pressures

• A decrease in the trade deficit

• A decrease in imports

What is the current unemployment rate mentioned in the discussion?

• 4.5%

• 3.9%

• 5.2%

• 4.1%

How does the trade deficit relate to capital expenditure and domestic saving?

• It suggests a balance between saving and expenditure

• It implies a reduction in job opportunities

• It indicates that domestic saving exceeds capital expenditure

• It shows that capital expenditure exceeds domestic saving

What is the speaker's view on worrying about the trade deficit's impact on jobs?

• It is a valid concern

• It is economic literacy

• It is economic illiteracy

• It is a minor issue