International Trade

Front

To focus on producing one thing to improve productivity is known as:

Back

Specialization

Front

What is a quota?

Back

a limit on the amount of a good that can be imported.

Front

What is a tariff?

Back

a tax on imported item

Front

Which one is NOT a benefit of free-trade? More diverse products available, Lower Prices for consumers, Increase in global trade, Finding the Holy Grail

Back

Finding the Holy Grail

Front

As more people import US goods, the value of the dollar _______?

Back

Increase

Front

As the value of one nation’s currency decreases, another is _______?

Back

Rising

Front

Which of the following is a form of trade barrier? Quota, Tariff, Embargo, All of the above

Back

All of the above

Front

What is a tax paid on imports?

Back

Tariff

Front

What is a limit on imports?

Back

Quota

Front

Export means

Back

selling goods to another country