Chapter 10 - Global Trade

Front

A fixed limit, set by the government, on the import of a product.

Back

quota

Front

A complete ban on a product or all the products from another country.

Back

embargo

Front

A view that there should be limits on foreign trade in order to protect business at home.

Back

protectionism

Front

Products one country buys from another country.

Back

imports

Front

A special tax on goods made in one country and sold in the United States.

Back

tariff

Front

The price at which one currency can buy another currency.

Back

exchange rate

Front

The value of one country's currency versus another is based on the supply of the currency.

Back

False

Front

When a currency is able to purchase more of another currency this is a ____________ exchange rate.

Back

favorable

Front

When a currency is able to purchase less of another currency this is a ____________ exchange rate.

Back

unfavorable

Front

The difference in value between how much a country imports and how much it exports.

Back

balance of trade