International Trade Crossword Quiz

3. With greater trade, the consumption possibilities curves for both trading countries shifts __________.
4. One way for the Government of Canada can influence our currency's value in foreign exchange markets is by changing the __________.
6. The prices of a traded good will move __________ in each trading country.
10. Canada imports the majority of its goods from __________.
11. When a product is sold in a foreign market for less than in its domestic market.
12. Freer Canada-US trade has resulted in __________ product lines being manufactured in Canada.
14. Canadian 'Snowbirds' holidaying in Arizona is considered an __________ of Canadian funds.
16. In 2018, Canada's balance of payments was __________.
17. International trade results in __________ for consumers.
18. Enforcing a quota is an example of a __________ barrier.
19. International trade results in __________ use of resources.
21. The __________ account measures the trade of good and services and is the most important of two sections (actually three) of Canada's balance of payments.
22. An increase in Canada's exports will __________ the value of our dollar.

1. Determines what a country should produce.
2. In 2005, Canada's balance of payments was __________.
5. Canada and the US each produce and trade tractors and trailers. Each week, one Canadian worker produces 6 tractors and 3 trailers whereas one US worker produces 10 tractors and 4 trailers. Therefore, Canada should specialize in producing __________.
7. The main reason Canadians want imports.
8. A tax on imports.
9. A special duty or tariff on subsidized imports.
11. Since 2012 when the $CAD was approximately at par with the $US, the Canadian dollar has __________ to its current level of approximately 75 cents US.
13. Canada’s largest export (2018 $CDN).
15. To produce the products that you do best.
20. Canada currently uses a __________ exchange rate for its currency.
23. Canada’s second largest trade partner (2018 $CDN) is __________.