Exam 20: International Economic Relations

When one country institutes tariffs, it is likely that other countries will follow, resulting in:

The reason international trade is controlled has to do with how economics relates to:

Although the value of the dollar has recently been on a roller-coaster ride, fluctuating, the general trend of the dollar has been:

The Trump administration has been a strong supporter of globalization.

When two or more countries are on the gold standard, only very large fluctuations can take place in the exchange rate between their currencies.

Trade imbalances can be offset by foreign capital investment.

A limit on the quantity or the value of a commodity that can be brought into a country is called a (n):

Recently the American dollar has been very stable.

Why do countries place restrictions on international trade? What are tariffs and import quotas? What are the arguments for and against protective tariffs?

After World War II, the Western world went on a modified gold standard.

A tax or duty on an imported commodity is called a (n):

International trade raises standards of living by increasing consumer purchasing power.

Between 2000 and 2005, the Bureau of Economic Analysis reported that the U.S. trade balance:

Controls on international trade include subsidies on exports, tariffs, quotas, exchange controls, and bilateral barter agreements.

The U.S. exchange rate system is called a (n):