Michael's Million Dollar Mashup (NO DISCRIMINATION AGAINST NAMES)

Question 1

Taxes placed on imports and exports

Accepted Answer

Tariff, I love you, MICHAEL BLAKELY, Taxes placed on imports and exports

Question 2

When a country exports more goods and services than it imports

Accepted Answer

Trade surplus

Question 3

What is NAFTA

Accepted Answer

North American Free Trade Agreement

Question 4

when a country produces a good or service for a lower opportunity cost than other countries.

Accepted Answer

comparative advantage

Question 5

Name a factor of global trade

Accepted Answer

stock-market changes, environmental disasters

Question 6

They are goods or services businesses sell to other countries

Accepted Answer

exports

Question 7

the difference between the value of a nation’s imports and exports

Accepted Answer

balance of trade

Question 8

Goods or services bought from producers in other countries areknown as

Accepted Answer

imports, MICHAEL BLAKELY

Question 9

When a nation can produce goods or services in a greater quantity than another country

Accepted Answer

absolute advantage

Question 10

How well have we taught you today?

Accepted Answer

I am now a follower of the Señor Blakely religion, I still don't have the will, so it still don't matter, +100

Question 11

takes place when a product is produced in one country and consumed in another

Accepted Answer

global trade

Question 12

if a country imports more than it exports it has a

Accepted Answer

trade deficit

Question 13

when producers and buyers who engage in trade with each other are located in the same country

Accepted Answer

domestic trade

Question 14

Name a benefit of global trade

Accepted Answer

Enhanced relations among trading countries, A better variety and quantity of goods and services

Questions 14