why is a cheaper dollar value better for the economy?

Answer 1

Well, it will help reduce the trade imbalance/deficit.

A weak US dollar means that our goods become cheaper and this hopeful yields more exports. It also makes imports more expensive and hopefully reducing imports.

With more things made in the US that should mean more jobs.

Answer 2

Oil is primarily traded in US $. Cheaper $ means reduction in the oil price. Rest you can understand....

However, the US $ should not shrink continuously as it will result into reduced US investments outside US which in turn may dwindle the world economy.

Accept it boss, healthy USA Economy == healthy world economy.

Answer 3

Cheaper dollar means you have to pay more for the manufactured goods. that means the manufactur can earn more money, hire more people, and improve the economy. As long as it doesnt go to fast...