International Trade & Globalization

The Trump administration renegotiated NAFTA with Mexico and Canada. President Trump's renegotiated free trade agreement is called

• YMCA

• USMCA

• NAFTA 2.0

• NASCAR

The exchange of goods and services by sale or barter driven by the need for resources.

• Fair Trade

• Globalization

• Trade

• Standard of Living

Sending goods to another country to sell.

• import

• export

Bringing goods in from another country to sell.

• import

• export

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (money to assist an industry so prices can remain low).

• Free Trade

• Trade War

• Goods and Services

• Supply and Demand

A large company such as McDonalds that has operations in more than one country.

• Domestic Corporation

• Multinational Corporation

• Foreign Corporation

• State Corporation

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

What are some negatives of globalization?

• Workers are exploited in sweatshops

• Pollution and deforestation

• Low wages for factory workers in Asia and Africa

• All of the answers are correct

A three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States that took effect in 1989.

• The UN

• NAFTA

• NATO

• IMF

Who typically ends up paying tariffs?

• Importers and/or consumers

• The International Monetary Fund

• Congress

• Exporters