American saturday night
How American is your Saturday night? This song about having fun on the weekend explains that as our economy has become more connected, our fun filled Saturday night depends on goods from all over the world.
Read the lyrics below and, in groups of two or three, answer the following questions.
1. How many goods are imported for another American Saturday night in this song?
Answer: 9: Brazilian boots, German cars, Beatles music, Italian ice, Spanish moss, margaritas, Canadian bacon, Corona beer, Amstel Light, French kisses are more of a service so that wouldn’t count. (And yes, the Italian ice, and Spanish moss were probably made in America, but maybe not, so an answer of 7 would be acceptable. Margaritas were probably made in America, but the tequila used in them would come from outside the country.)
2. What part of net exports is most clearly being affected here?
Answer: Imports, because Americans are buying lots of goods and services from other countries.
3. Based on the lyrics, would net exports rise, fall, or be balanced if all these goods are new imports?
Answer: Fall. Net exports are exports minus imports. To compute net exports we would need to know the value of exports and imports. Assuming exports remain the same, if imports like those mentioned in this song rise, net exports must get smaller.
4. In the bridge of this song Brad Paisley sings “You know everywhere has something they're known for”. This is particularly economic in nature. What idea does this lyric convey?
Answer: Comparative advantage. A country is known for something in the economic sense because they are able to produce it at a lower opportunity cost.
5. How does the idea in 4 result in an American Saturday night?
Answer: By trading with other countries for what they do well, the American Saturday night is much more interesting.
6. Would Saturday night be better or worse if we didn’t “have all this”?
Answer: This is a normative question, but it would probably be worse because the “all this” includes the goods and services that make Saturday night fun.
“American Saturday Night”
Whoa whoa
She's got Brazilian leather boots on the pedal of her German car
Listen to the Beatles singing back in the USSR
Yeah she's goin' around the world tonight
But she ain't leavin' here
She's just going to meet her boyfriend down at the street fair
It's a french kiss, Italian ice
Spanish moss in the moonlight
Just another American Saturday night
There's a big toga party tonight down at Delta Chi
They've got Canadian bacon on their pizza pie
They've got a cooler full of cold Coronas and Amstel light
It's like were all livin' in a big ol' cup
Just fire up the blender, mix it all up
It's a French kiss, Italian ice
Margaritas in the moonlight (whoa)
Just another American Saturday night
You know everywhere has something they're known for
Although usually it washes up on our shores
My great great great granddaddy stepped off of that ship
I bet he never ever dreamed we'd have all this
You know everywhere has somethin' they're known for
Although usually it washes up on our shores
Little Italy, Chinatown, sittin' there side by side
Live from New York, It's Saturday Night!
It's a French kiss, Italian ice,
Spanish moss in the moonlight
Just another American, just another American,
Its just another American Saturday night