Chapter 17 Key Terms

The ________ ____ determines how much a foregin currency is worth in a certain nation. Google it.

• money rate

• exchange rate

• discount rate

• dollar rate

? a favorable balance of trade that occurs when a nation exports more than it imports.

• trade surplus

• trade imbalance

• trade embargo

• trade deficit

? a fee charged for goods brought into a country from another country.

• fee

• tax

• tariff

• cost

Google it. Economists use the term ________ ____________ to refer to one nation's currency rising in value in comparison to another country's currency.

• dollars

• pesos

• no fee currency

• currency appreciation

Goods or services produced in one country and sold to other countries.

• imports

• US

• exports

• Mexico

? the ability of one trading nation to produce something at a lower opportunity cost than that of another trading nation.

• similar advantage

• comparative advantage

• cost advantage

• fee advantage

? a new industries that are often unable to compete against larger, more established competitors

• teen industries

• kid industries

• infant industries

• baby industries