Unit IV International Trade Review

Balance of payments measures ___.

The trading block that includes Canada, Mexico and the U.S.

Limited resources and unlimited needs and wants create:

What affect does increased consumer spending have on GDP?

Which point would indicate the unemployment rate was increasing and GDP was decreasing?

Exchange rate is the ___.

U.S. farmers being given a 15% subsidy on the value of their crop by the government helps ___.

When deciding what to produce for trade, countries must determine which country has ___.

Consumer spending is decreasing and companies are laying off workers. This is ___.

Because unemployment is increasing the government should ___.

Consumers may like free trade because ___.

GDP has been decreasing for a year.  The Fed should ___.

If the dollar decreases in value versus foreign currency, then ___.

Stagflation is ___.

The government's taxing and spending policies.

Point B represents...

Countries with a comparative advantage also have a ___ for producing a product.

American dollar increases in value relative to the value of the Mexican pesos, what happens?

If you belong to an American labor unions, you are probably ___.

If people are spending more money than ever before, what is likely to happen?

The main purpose of trading blocks is to ___.

When Russia limits the amount of wheat the U.S. can sell to Russia, it is what type of barrier?

Which point indicates economic expansion?

The business organization that is legally considered a person is __.

The difference between a nation's exports and its imports is ___.

Who owns the Federal Reserve?

The trade block formed by countries in southeast Asia is ___.

When one country imposes a trade barrier on another, what is the most likely response?

The nation that can make the largest amount of a product has ____.

If Germany produces more airplanes than Switzerland, then Germany has ___.