module 8 topic 4

2. The trade agreement between the United States, Mexico, and Canada.
7. A ______ economy is the economic system that where the government controls production and distribution.
10. Most economists believe that ______ (increasing/decreasing) international trade is in the better interest of the United States.
13. An agreement that eliminates trading barriers, signed by two or more nations that agree to increase investment and promote fair competition between them.
15. The action of exchanging goods or services between two entities.
16. Many manufacturing jobs have been moved to other countries in the hopes that they can find cheaper ______.
18. Trade within the United States is ______ trade.
19. Adam ______ was an economist that believed the free market system was the best way to govern, and wrote a book on how important it is for people to have economic freedom.
20. Economic system that the United States uses, one which blends free market and command economy elements.

1. A nation chooses its system based on how it answers three basic ______ questions.
3. Economic ______ is defined by an individual’s right to answer the three basic economic questions without interference from the government.
4. Economic system based on customs and history, focusing on family and community and typically keeping the same economy for generations.
5. Economic system that is controlled by supply and demand
6. The Fed adjusts these rates to influence the economy, loans become cheaper or more expensive when these move.
8. Karl ______ was an economist that supported equality and a strong central government.
9. Trade between the United States and another nation.
11. The Federal ______ serves as the nation’s central bank.
12. ______ is used as a tool by the government to raise revenue.
14. ______ goods and services funded by taxpayers and provided by the government for the people.
17. ______ on free trade set in place by some governments because it could potentially harm workers in the nation.