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Barriers to International Trade
Absolute and Comparative Advantage
Kitchener Waterloo Economy
Foreign Trade and Defiects
100
Taxes on imported goods
What is Tariffs?
100
The goods and services that it produces and sells to other nations.
What is Exports?
100
The "downtown area in Kitchener Waterloo"
What is Uptown?
100
A system where which the price of one currency is fixed in terms of another currency so that the rate does not change.
What is foreign exchange rate.
200
International agency that administers trade.
What is WTO?
200
When it can produce more of a product than another country.
What is absolute advantage?
200
The original name for Kitchener.
What is Berlin?
200
The forces of supply and demand establish the value of one country’s currency in terms of another country’s currency.
What is flexible exchange rates, or floating exchange rates?
300
The difference in payments a nation pays out to and receives from another during international trade.
What is balance of payments?
300
The ability to produce a product relatively more efficiently, or at a lower opportunity cost.
What is comparative advantage?
300
The position that Valorie Bradford has at the City of Kitchener.
What is Economic Development?
300
Whenever the value of the products it imports exceeds the value of the products it exports.
What is trade deficit?
400
An argument that states that new industries should be protected from foreign competition.
What is infant industries argument?
400
A graph signifying the country's production of two variables.
What is production possibilities frontiers?
400
The building in Kitchener that was a former boots factory and now is a condominium development.
What is Kaufman lofts?
400
Whenever the value of its exports exceeds the value of its imports.
What is trade surplus?
500
A tariff that is high enough to generate revenue for the government without actually prohibiting imports.
What is revenue tariff?
500
The area which there is the greatest trade imbalance with the United States.
What is China?
500
The number one industry in terms of employment in the Kitchener Waterloo Region.
What is the manufacturing?
500
At a 6 month low compared to the US dollar.
What is the Canadian currency?