Across
- 4. a government order prohibiting the movement of goods to a country
- 5. (two words, no space) a status given to a trading partner to reduce tariffs
- 8. an international agency that administers trade agreements, settles disputes, and negotiates support for developing countries
- 9. (two words, no space) balance of payments outcome when spending on imports exceeds revenues received from exports
- 13. types of industries that are emerging and need protection from foreign competition
- 15. a tax on imports to assist domestic industries
- 16. (two words, no space) the price of one country's currency in comparison to another's
- 17. (two words, no space) a system that tied the US dollar to the gold standard during world war 2
- 20. (two words, no space) an example of a fixed exchange rate
Down
- 1. an advantage where a country can produce a given product more efficiently than another country
- 2. people who want to protect domestic producers against foreign competition with tariffs, quotas, and other trade barriers
- 3. a limit placed on the quantities of a product that can be imported
- 6. (two words, no space) currency that has a flexible exchange rate
- 7. an international agreement between 23 countries to reduce trade barriers
- 10. (two words, no space) people who favor fewer or no trade restrictions
- 11. an advantage where a country can produce a product relatively more efficiently than another country
- 12. a trade agreement that reduced trade barriers between the US, Mexico, and Canada
- 14. (two words, no space) situation occurring when the value of a nation's exports exceeds the value of its imports
- 18. the goods and services that a nation produces and then sells to other nations
- 19. the goods and services that a nation buys from other nations