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WorksheetsChapter 12 ECON
Total questions: 20
Worksheet time: 20mins
a negative balance of trade experienced when a nation imports more than it exports
Trade Deficit
Trade Surplus
Tariff
Real GDP
the difference between the dollar amount a nation takes in from the sale of exports and the dollar amount it pays for imports.
(a)
the sum of all business spending on capital investment and unplanned inventories
Real GDP
Gross Domestic Product (GDP)
(GDPI) Gross Private Domestic Investment
nominal GDP
the gross domestic product adjusted for inflation
(a)
limitations on the quantities of certain goods that foreign nations may import
(a)
another name for gross private domestic investment (GPDI)
GDP
Free Trade
Nominal GDP
Business Investment
Intangible products purchased by consumers
(a)
the nation's real gross domestic product divided by its total population
GDPI
Per Capita Real GDP
Tariff
Real GDP
people who believe that trade deficits lead to a decrease in the number of domestic jobs and wish to protect those jobs through trade legislation
(a)
the gross domestic product reported in current or nominal dollar values
(a)
items that are expected to be worn out or used up within one year
Consumer nondurable goods
consumer services
consumer durable goods
items
a price index that rises as the prices of all goods and services rise
(a)
a positive balance of trade experienced when a nation exports more than it imports
Positive Trade
Trade Surplus
Trade Deficit
Trade Benefits
a condition in which the governments do not impose trade legislation and people are free to buy and sell products regardless of the nation that produced them
(a)
a tax on an imported product
tariff
tax
taxation
real GDP
a government's payment to a producer to help with manufacturing costs
(a)
goods and services that are sold to ultimate users
(a)
items that are purchased either to be resold immediately or to be incorporated into other goods
consumer goods
intermediate goods
consumer services
trade surplus
the total dollar value of all final goods and services produced by a nation in one year
(a)
Items that have a life expectancy of more than one year
(a)
