________________ are the goods and services purchased from other countries.

_________________ are goods and services sold to other countries.

When the USA imported machinery to build computers, once the computer was built the USA then exported the computers to other countries to get their profits back to equal. What is this an act of?

The commercial exchange between nations that is conducted on a free market principle without regulations is known as which of the following?

A tax on imports is also known as which of the following?

Jim needed 12 cakes for his upcoming fundraiser but the local cake store put a ________________ on the number of cakes that one person could buy so Jim was short 2 cakes.

The United States put a ________________ on importing Chilean grapes in 1989 because there was poison found within a shipment.

Government's establish economic policies that systematically restrict imports in order to protect domestic industries. This is known as what?

Which of the following is a global coalition of nations that make the rules governing international trade?

Which trade agreement is between the United States, Mexico and Canada?

Which of the following trade agreements allowed one Continent to have a single type of currency?

A _______________ advantage occurs when a country has economic resources that allow it to produce a product at a lower cost than another country.

Most countries do not produce or manufacture all the goods and services they need.

Currently, the United States has a trade deficit, which means it imports more than it exports.

Trade agreements and alliances, such as WTO, NAFTA and EU do not aim to establish guidelines for international trade.

Which of the following are trade barriers?

An effect of a negative balance of trade can be increased unemployment.