Terms, yo
it's all global
Theories and stuff
Barriers and such
Random
100
A tax on an import
What is a Tariff
100
This is a cap placed on goods.
What is a quota
100
This policy is what the federal reserve does.
What is Monetary Policy
100
if companies do this with a product, they tend to be able to compete more.
What is specialize
100
the value of the dollar decreases...prices are high
What is inflation
200
An industry will use this, to help out a domestic industry, like apple farmers.
What is a protective tariff
200
This idea states that small businesses have a hard time competing with larger companies. Therefore, free trade is bad.
What is the infant industries argument
200
This theory supports American goods and industry.
What is Protectionism
200
Jay can produce lemonade at $0.50 a cup where Sally must sell hers for $0.75 per cup. What is this?
What is the comparative advantage.
200
The fed's board of governors has this many members
7
300
Government will place these in order to generate money for the U.S. economy.
What is a revenue tariff
300
Define what globalization is.
What is the creation of an interdependent world economy.
300
This policy describes what the Government does with tax dollars and the federal budget.
What is FISCAL policy
300
China is able to produce more technological goods at a faster rate than Myanmar. Therefore, they have this.
What is the absolute advantage
300
The federal reserve's special board pretty much makes all the decisions around monetary policy. What are they called?
What is the FOMC
400
this organization essentially regulates trade agreements and the ideas that come with it, around the globe.
What is the World Trade Organization
400
Provide 3 reasons that globalization can be a NEGATIVE impact on the globe and the economy.
-environmental impacts -job loss -$ problems, like inflation -high tariffs -poor production -over populated
400
List 3 arguments in support of protectionism.
-keeps jobs local -american made goods -quality goods -good for national security -good for border safety -good for small business development
400
These two economies are often limited because they tend to reject new ideas and new technology.
Traditional and command economies
400
China, Japan and Russia have what kind of economy?
Mixed
500
What does NAFTA stand for and what does it do?
What is North American Free Trade Agreement No tariffs between Mexico, U.S. and Canada
500
Provide 3 ways globalization can be POSITIVE on the economy.
- shared goods and culture -new technology to new places -new infrastructure to developing nations -affordable goods and services
500
List 3 arguments in support of international trade
-consumers pay less -corporate growth -certain goods would not be able to be shared without it -new technology
500
These two BIG factors can heavily impact a nations economic development.
What are education and geography
500
Who did the United States recently end an embargo with?
What is Cuba
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