U.S. Bureau of Labor Statistics

U.S. Bureau of Labor Statistics

Who does not want cheaper cars! According to the U.S. Bureau of Labor Statistics, the automotive industry employed 4,400,800 people as of September of 2023 (2023). You heard on the news early this morning that the entire automotive industry in the United States will move to Mexico because the labor, material, and operation costs there are 70% less than in the United States. This means that cars made in Mexico by American manufacturers could be sold in the United States at half their current price. This means that more people can afford to buy cars. Based on your understanding of gross domestic product (GDP) and economic growth, will such news lead to economic growth in the United States or economic decline? Explain how in detail. What other industries will be impacted if U.S. automotive manufacturers move all their facilities to Mexico. APA.

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Bureau of Labor Statistics

U.S. Bureau of Labor Statistics, Who does not want cheaper cars! According to the U.S. Bureau of Labor Statistics, the automotive industry employed 4,400,800 people as of September of 2023 (2023). You heard on the news early this morning that the entire automotive industry in the United States will move to Mexico because the labor, material, and operation costs there are 70% less than in the United States. This means that cars made in Mexico by American manufacturers could be sold in the United States at half their current price. This means that more people can afford to buy cars. Based on your understanding of gross domestic product (GDP) and economic growth, will such news lead to economic growth in the United States or economic decline? Explain how in detail. What other industries will be impacted if U.S. automotive manufacturers move all their facilities to Mexico.

U.S. Bureau of Labor Statistics

Who does not want cheaper cars! According to the U.S. Bureau of Labor Statistics, the automotive industry employed 4,400,800 people as of September of 2023 (2023). You heard on the news early this morning that the entire automotive industry in the United States will move to Mexico because the labor, material, and operation costs there are 70% less than in the United States. This means that cars made in Mexico by American manufacturers could be sold in the United States at half their current price. This means that more people can afford to buy cars. Based on your understanding of gross domestic product (GDP) and economic growth, will such news lead to economic growth in the United States or economic decline? Explain how in detail. What other industries will be impacted if U.S. automotive manufacturers move all their facilities to Mexico.