US and Int. Trade

The main objective of economic integration is to

• Increase foreign aid

• Increase welfare

• Increase countries working together

• Increase national sovereignty

The EC admitted what three Southern European countries when they agreed to implement democratic governments

• West Germany/England/Spain

• Croatia/Hungary/France

• Greece/Spain/Portugal

• Sweden/Denmark/Slovakia

Foreign goods shipped into a region or country

• Intrinsic goods

• Exports

• Tariffs

• Imports

One of the controversial issues on economic integration is the deflation of prices

• True

• False

Is a method used to stop the shipment of certain products to or from a particular country for economic or political reasons

• Quota

• Tariff

• Embargo

• World Trade

Foreign exchange rate cannot be tracked

• True

• False

Are a fixed limit on the amount of import or export of a product set when trading with another country

• Tariffs

• Imports

• Embargos

• Quotas

Balance of payments is a comparison of the amount of foreign currency taken into a country versus amount of domestic currency paid out

• True

• False

Trade that is done within one region or country

• World Trade

• Domestic Trade

• Intrinsic Trade

• Dominant Trade

Which answer does not create money movement from one country to another

• Tourism

• Military or foreign aid

• Imports and exports

• Domestic trade