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Econ Vocab

Econ Vocab

Assessment

Flashcard

6th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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40 questions

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1.

FLASHCARD QUESTION

Front

Value of one country's currency in terms of another's:

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Back

exchange rate

2.

FLASHCARD QUESTION

Front

Anything that hinders the exchange of goods/services between countries is called...

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Back

a trade barrier

3.

FLASHCARD QUESTION

Front

Tariff

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Back

A tax or duty to be paid.

4.

FLASHCARD QUESTION

Front

What does GPD mean?

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Back

Gross Domestic Product

5.

FLASHCARD QUESTION

Front

Type of trade barrier that halts all trade due to government disagreements or illegal activities.

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Back

embargo

6.

FLASHCARD QUESTION

Front

Focus on producing specific goods quickly and cheaply (e.g., Germany's automotive industry).

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Back

specialization

7.

FLASHCARD QUESTION

Front

Total value of goods/services in a country in 1 year, indicating wealth:

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Back

gross domestic product

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