The total dollar value of all final goods and services produced in a country during one year.
GDP
100
another way to measure economic growth is ______ or output per person.
GDP per capita
100
An organization assisted two countries on setting a trade disagreement on tariffs.
world trade organization
100
The different between a country's total exports and total imports.
Balance of trade
100
the making, buying, and selling of goods and services within a country is called ________.
domestic business
200
A period in which most people who wants to work are working, business produce goods and services in record numbers, wages are goods, and the rate of GDP growth increase.
Prosperity
200
a government may spend less than it takes in. when this occurs, a ______ is the result.
budget surplus
200
Chun purchased 150 shares of stock in the panasonic company. how many votes will she have at the next stockholder's meeting?
150
200
The value of a currency in one country compared with the value in another.
exchange rate
200
a _____ is the right to use a company name or business process in a specific way.
franchise
300
A number that compares prices in one year with some earlier base year.
Price index
300
department of commerce measures ______, or the sales of durable and nondurable goods bougth by consumers.
retail sales
300
A convenience store gave the rights to company in mexico to see its products and services. this is an example of which global marketplace main entry mode?
franchising
300
A tax that a government places on a certian imported products.
tariff
300
under a _______ member countries agree to remove duties and trade barriers on products traded among them
free-trade agreement
400
A period in which demand begins to decrase, business lower production, unemployment begins to rise, and GDP growth slows for two or more quarters of the calendar year.
Recession
400
_______ is a phase marked by a prolonged period of high unemployment, weak consumer sales, and business failures.
Depression
400
Todd decided to from a corporation instead of a sole propietorship because of which ADVANTAGE?
limited liability
400
governments set a limit on the quantity of a product that may be imported or exported within a given period.
quota
400
a ______ is a selected area where products can be imported duty-free and then stored, assemble, or used in manufacturing.
free-trade zone
500
refers to salaries and wages as well as investment income and government payments to individuals.
Personal income
500
This movement of the economy from one condition to another and back again is called a _______.
business cycle
500
Syria is banned from selling products within other countries. this is an example of which international trade barrier?
Embargoes
500
are items bought from other countries.
imports
500
government actions can create ________, which are restriction to free trade.