International Trade Crossword Quiz

4. With greater trade, the consumption possibilities curves for both trading countries shifts __________.
5. When a product is sold in a foreign market for less than in its domestic market.
7. One way for the Government of Canada can influence our currency's value in foreign exchange markets is by changing the __________.
10. A tax on imports.
11. In 2018, Canada's balance of payments was __________.
14. Canada imports the majority of its goods from __________.
18. The main reason Canadians want imports.
19. Canadian 'Snowbirds' holidaying in Arizona is considered an __________ of Canadian funds.
22. The prices of a traded good will move __________ in each trading country.
23. 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.

1. 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.
2. Determines what a country should produce.
3. A special duty or tariff on subsidized imports.
6. In 2005, Canada's balance of payments was __________.
8. Canada’s second largest trade partner (2018 $CDN) is __________.
9. Enforcing a quota is an example of a __________ barrier.
12. Canada’s largest export (2018 $CDN).
13. International trade results in __________ for consumers.
14. 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 __________.
15. To produce the products that you do best.
16. International trade results in __________ use of resources.
17. Freer Canada-US trade has resulted in __________ product lines being manufactured in Canada.
20. An increase in Canada's exports will __________ the value of our dollar.
21. Canada currently uses a __________ exchange rate for its currency.