Globalization and Trade

Front

Who is Canada's main trade partner?

Back

The U.S.

Front

The political cartoon above is objecting to what economic controversy?

Back

the outsourcing of jobs to foreign countries.

Front

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).

Back

Free Trade

Front

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

Back

Globalization

Front

Who typically ends up paying tariffs?

Back

consumers

Front

When the U.S. has an economic recession, it has a ripple down effect to China who exports goods to the U.S. and causes an economic recession in China as Americans are buying fewer goods. This relationship between China and the U.S. is called -

Back

economic interdependence

Front

Which of the following was instrumental in creating the global economy that exists today?
Options: The use of high taxes for imports and exports, Improvements in technology such as the Internet, The creation of one form of currency (money) used to trade, The success of the Communist governments in guiding trade

Back

Improvements in technology such as the Internet

Front

What is globalization?

Back

The increased flow of trade, people, technology, and culture among countries.

Front

This is a tax on imports that is used to increase price of foreign products and raise government revenue.

Back

tariff

Front

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

Back

USMCA