Across
- 3. largest trade agreement
- 6. price of one nation's currency in terms of another nation's currency
- 8. people who argue for trade restrictions to protect domestic industries
- 9. fall in the price of a currency through the action of supply and demand
- 10. forces of supply and demand are allowed to set the price of currencies
- 11. agency that offers monetary advice and provides loans to developing countries
- 13. designed to reduce tariff barriers between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic, and the US
- 18. tax on imports used primarily to raise government revenue without restricting imports
- 19. goods bought from other countries for domestic use
- 21. concept that a nation should produce and export a limited assortment of goods
- 22. raises the cost of imported goods and protects domestic producers
- 23. ability of a country to produce a product at a lower opportunity cost than another country
Down
- 1. trade agreement designed to reduce and gradually eliminate tariff barriers between Mexico, Canada and the US
- 2. system under which a national government sets the value of its currency
- 4. complete restriction on the import or export of a particular good to or from a certain country
- 5. lowering a currency's value in relation to other currencies
- 7. European nations whose goal is to encourage economic integration as a single market
- 12. difference between the value of a nation's exports and its imports
- 14. goods sold to other countries
- 15. restriction imposed on the number of unites of a particular good that can be brought into the country
- 16. markets dealing in buying and selling foreign currency for businesses that want to import goods from other countries
- 17. tax placed on an imported product
- 20. ability of one country to produce more output per unit of input than can another country