Across
- 7. A company that operates in multiple countries.
- 8. A graphical representation of income distribution within a population.
- 9. An exchange rate (ER) system where the currency’s value is set by the government.
- 10. A record of all economic transactions between a country and the rest of the world.
- 11. When a country imports more goods and services than it exports.
- 12. An exchange rate (ER) system where the government occasionally intervenes in the market.
- 14. A customs union that also allows free movement of labor and capital.
- 15. The total value of goods and services produced within a country in a given time period.
- 16. Government policies that restrict imports to support domestic industries.
- 20. When economic integration causes trade to shift away from a more efficient producer outside the bloc to a less efficient producer within it.
- 21. A tax on imported goods to make them more expensive.
- 23. A method of comparing purchasing power across countries by adjusting for cost-of-living differences.
- 24. A group of countries that share a common currency and monetary policy.
- 26. Investment by a company in production or business operations in another country.
- 27. When a country exports goods at a price lower than their cost of production.
- 30. Financial assistance from the government to support domestic producers.
- 32. A group of countries that remove trade barriers between each other but maintain individual external tariffs.
- 33. A set of global goals set by the UN to promote sustainable development, including poverty reduction, education, and climate action.
- 34. A measure of development based on income, education, and life expectancy.
- 36. When a country can produce a good using fewer resources than another country.
- 37. A measure of income inequality within a country, ranging from 0 (perfect equality) to 1 (perfect inequality).
- 38. A theory that predicts that after a depreciation, the trade balance will initially worsen before improving.
- 39. An exchange rate (ER) system where the currency’s value is determined by market forces.
Down
- 1. The account of the BOP that records financial transfers and non-produced, non-financial assets.
- 2. Small loans and financial services provided to individuals and small businesses in developing countries.
- 3. The price of one currency in terms of another.
- 4. A measure of GDP that accounts for environmental damage and resource depletion.
- 5. A limit on the quantity of a good that can be imported.
- 6. When economic integration leads to more efficient trade by replacing high-cost domestic production with lower-cost imports.
- 13. Business practices that consider ethical, social, and environmental impacts.
- 17. States that a depreciation will only improve the current account if the sum of demand elasticities for exports and imports is greater than one.
- 18. The account of the BOP that records investment flows, such as FDI and portfolio investment.
- 19. When a country can produce a good at a lower opportunity cost than another country.
- 22. When a country exports more goods and services than it imports.
- 25. The account of the BOP that records trade in goods, services, income, and transfers.
- 28. New industries that may need protection from foreign competition to develop.
- 29. The total income earned by a country's residents, including overseas income.
- 31. A group of countries that remove trade barriers and adopt a common external tariff.
- 35. An international organization that promotes free trade and resolves trade disputes.