NAFTA (what it stands for, what it is and who is in it)
What is North American Free Trade Agreement, a trade agreement between Mexico, Canada and US.
100
Definition of debt.
What is owing money.
100
When a country helps another country without necessarily expecting anything in return.
What is aid?
200
Specialization
What is when you focus on doing or making something well.
200
The goal of tariffs.
What is to encourage consumers to purchase domestic products and to earn money for the government.
200
When two or more countries try to damage each other's trade, often by imposing tariffs.
What are trade wars?
200
The current US debt. (approximately)
What is 19.8 trillion?
200
GDP (define and say what it is)
What is Gross Domestic Product and it is the monetary value of all goods produced and services provided in a country in a year?
300
When a country imports more than it exports.
What is a trade deficit?
300
Subsidy
What is when a government gives money to a company to keep the cost of the product low.
300
The benefits of trade partnerships.
What is reduction of barriers to trade.
300
The relationship between overconsumption and debt.
What is overconsumption often leads to debt.
300
GDP per capita.
What is GDP divided by the population of the country.
400
Revenue.
What the term to describe money earned?
400
Winners from outsourcing.
Who are the people received the outsourced jobs and possibly the consumers of the product being create or service being given.
400
TPP (what it stands for and 3 countries involved)
What is a Trans-Pacific Partnership (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam)
400
The reason the US doesn't just print more money to solve the debt crisis.
What is inflation.
400
Comparative advantage.
What is the ability to do or make something more efficiently than another thing.
500
Outsourcing
What is sending jobs to other countries?
500
Losers from a subsidy (name at least two)
Who are international companies making competing products to the one being subsidized and perhaps the government providing the subsidy due to the expenditure.
500
An example of opportunity cost
What is anything that shows the cost of choosing to do or produce one thing over another.
500
The three countries that hold the largest amount of US debt.
What are China, Japan and Brazil.
500
The term that explains how it is possible that you could take out a $10,000 student loan from a bank and end up paying $15,000 back to the bank on that same loan.