This is one of the few items I'll be posting that was purchased on eBay, in this case probably a decade ago. I recall this not being cheap for a single - I'll bet close to $20 with postage.
Here we have one of the many projects of alpine/German-speaking Italy's producer Giorgio Moroder (his official site is down unfortunately), who began producing rock and pop in Europe in the mid-'60s, rode and popularized a number of trends including bubblegum pop, electronic pop and proto-glam, and found huge success as a disco producer (Diana Ross) in the late '70s. He was a big proponent and composer of electronic music, which led to his composition of over 100 film and TV soundtracks. Apparently he's living in Beverly Hills these days, penning tunes for Hollywood's crap factory.
Spinach dates it appears from his Munich producing and composing days, which is a very good thing for us. Side A is a bubblegum piece with a lyric about the stereotypical USA; it sold over 400,000 copies in Japan in the early '70s. (There is a 1973 Japanese LP of this material which is likely not cheap. Anyone heard it?) The B side has more interesting percussion and some of the early synth sound that would come to dominate his work in the coming years.