Final answer:
The United States has a mixed economy, while Canada's economy is tied to the United States. The type of government in each country affects their trading and exchange of goods and services.
Step-by-step explanation:
The United States and Canada have different types of economies and governments that affect their trading and exchange of goods and services.
The United States has a mixed economy where most businesses are privately owned and regulated by the government. It has a capitalist system with a focus on free markets and private property rights. The government plays a significant role in the economy through economic policies, regulation, taxation, and public spending. The United States government aims to achieve economic goals such as promoting economic growth, full employment, price stability, and income equality.
Canada also has a mixed economy. Key industries are nationalized and directly controlled by the government, while most businesses are privately owned and regulated. Canada's economy is closely tied to the United States, with a significant portion of its exports going to the United States and a large share of its imports coming from the United States. The fluctuations in the exchange rate between the Canadian dollar and the US dollar can impact the Canadian economy.