TRS6. P1. Vocabulary NEW 1

By focusing on coffee production, Vietnam _____ a commodity in which the nation has a comparative advantage.

• goes awry

• specializes in

• devolves into

• tackles

Economists argue that _____ benefits all participating nations by promoting competition and efficiency.

• market superiority

• free trade

• import quota

• opportunity cost

The government enacted new _____ to shield the domestic auto industry from cheap foreign competition.

• retaliatory measures

• sanctions

• protectionist legislations

• financial prosperity

Critics argued that imposing a _____ on imported steel would raise costs for the construction industries.

• restrictive tariff

• hiccup

• robust strategy

• prospective plan

To protect local producers, a(n) _____ was set to limit the amount of cheese that can be imported each year.

• diplomatic status

• free trade agreement

• tactical loss

• protectionist measure

When choosing between college and work, you must consider the _____ of losing four years of potential income.

• reinforcement

• opportunity cost

• betterment

• allegiance

The company tried to expand too quickly and ended up having to _____ massive debts.

• hone

• cede

• enact

• incur

The nations imposed _____ sanctions on each other, leading to a full-blown trade war.

• prospective

• deferential

• analogous

• retaliatory

The United Nations imposed economic _____ on the country to force its compliance with international law.

• virtues

• disciples

• hiccups

• sanctions

The parliament is expected to _____ a new law aimed at tackling climate change by the end of the year.

• enact

• foster

• cede

• rally