Down |
2. | A Producer has a _____ when it can produce a product at a lower opportunity cost than another producer. |
3. | Arguement supporting tariffs to promote domestic employment |
4. | Short name for a free trade area |
7. | Goods Exchange Ratio between Nations |
8. | Government Payments to a Domestic Producer |
9. | International Outsourcing |
10. | The False idea that what is true for the part is necessarily true for the whole. |
12. | Wool, Meat, Vegetables |
13. | Trade Barrier by which Foreign Firms voluntarily restrict the number of exports to a particular country. |
15. | The 16 nations of the EU that use the Euro is referred to as the ____. |
16. | Price that would prevail in a closed economy |
17. | The extra output that trading partners obtain through specialization of production and and exchange of goods/services. |
18. | Import Tax |
19. | Economic Effects of a Protective Tariff or Import Quota |
20. | Tax intended to protect domestic business |
22. | Largest Exporter of Goods and Services as a precentage of GDP. |
23. | Import Tax intended to creat Revenue for Federal Government |
24. | Slopes Upward |
25. | Shows amounts of two products a nation can obtain via specializing in one and trading for the other |
26. | Oversees trade agreements reached by member nations |
28. | Slopes Downward |
29. | Airplanes, Cars, Machinery |
30. | Act that caused a 1930 "trade war" |
31. | What one country gives up for an additional unit of a resource compared to another |
32. | Limit on imports. |
33. | Association of 27 European Countries that has elminated tariffs and quotas amongst themselves. |