Terminology
Goods and services sold to another country
What are exports?
Goods and services bought from another country
What are imports?
The difference between a country's total payments to other countries and its total receipts from other countries
What is a balance of trades?
The US imports this valued more than anything else yearly.
What is Machinery? (computers, hardware, etc..)
This is my favorite college besides NDSU and VCSU
What is the University of North Carolina?
A limit on the quantity of a product that may be imported and exported within a given period
What is a quota?
Stopping the importing and exporting of a certain product or service
What is an embargo??
A nation's transportation, communication, and utility systems
What is infrastructure?
This is the top exported item from the United States
What is oil?
What is one day?
Government restrictions to reduce free trade
What are trade barriers?
An agreement between two or more companies from different countries to share a business project
What is a joint venture?
The International Bank for Reconstruction and Development is commonly called this
What is the World Bank?
The US imports the most valued goods from this country.
What is China?
This is the year that I graduated from high school
What is 2014?
An organization that conducts business in several countries
What is a multinational company (MNC)?
What is balance of trade?
Member countries agree to remove duties, also called import taxes and trade barriers on products traded among them from one of these
What is a free trade agreement?
This country takes in the most product from the United States (they are closer than you think)
What is Mexico?
This is how many concerts I have been to (bonus points if you can name of the bands/artists)
What is 3? Journey, Carrie Underwood, and Chicago
The value of money of one country expressed in terms of the money of another country
What is exchange rate?
A tax that a government places on certain imported products
What is a tariff?
This exists when a country can produce a good or service at a lower cost than other countries.
What is absolute advantage?
According to the United States Department of Agriculture, approximate this fraction of all agricultural imports include horticultural and tropical products like fruits, vegetables, nuts, and flowers.
What is two-thirds?
I was employed at this organization with this role during the summer when I was in college for 3 years resulting in the best summers of my life thus far.
What is a camp counselor for North Dakota Farmers Union?