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Vocab
Barries to International Trade
Financing
Trade Deficits and Surpluses
Misc
100
a tax placed on imports to increase their price in the domestic market
What is tariff
100
the difference between exports and imports
What is the trade balance
100
increases as trade grows between countries
What is economic espionage
100
Because deficits tend to be self-correcting, most nations no longer design economic policies just to improve
What is balance of payments
100
tariffs, quotas, and nationalism
What is 3 barriers to international trade
200
difference between money paid to, and received from, other nations in trade
What is balance of payments
200
Tariffs and Quotas
What is restricting international trade
200
a system used when supply and demand determine the currency's value
What is floationg or flexible exchange rate
200
the price system
What is What is a way trade deficits correct themselves under flexible exchange rates
200
world trade organization and north amercin free trade agreement
What is two attempts to facilitate the growth of internatioal trade
300
price of one countries currency in terms of another country
What is foreign exchange rate
300
protective tariff and revenue tariff
What is two types of tariffs
300
0.008454 yens
What is equal to 1 U.S dollar
300
facilitate international trasdes are brought and sold in the foreign trade exchange market
What is a way that the foreign exchange is used in trade
300
floating exchange rates
What is flexible exchange rates
400
index showing strength of the United States dollar against a market basket of other foreign currencies
What is trade-weighted value of the dollar
400
an agreement to liberlize free trade by reducing tariffs among three major trading partners.
What is north american free trade agreement
400
are set according to the demand and supply of different types of money
What is exchange rates
400
the large ______ _______ in the United States in the mid 1980s were partially caused by a strong dollar,resulting in unemployment in the export industries
What is trade deficits
400
a international agency that administers previous GATT trade agreement
What is world trade organization
500
country's ability to produce more of a given product than can another country
What is absolute advantage
500
people who believe that all of these arguments are flawed, with the possible exception of the infant industries argument
What is free traders
500
American exports go down and imports rise
What is the value of the dollar goes up
500
if the value of a country's exports had exceeded the value of its imports
What is trade surplus
500
1)trade barriers centers on national defense 2)infant industriers agrument 3)tariffs and quotas protect donestic jobs from cheap foreign labor 4)claims that limiting imports will keep american money in the U.S instead of allowing it to go abroad 5)balance of payments
What is five arguments that are used to support the protectionist argument