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International Trade & Finance Flashcards

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International Trade & Finance Flashcards

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All 30 flashcards for International Trade & Finance

What is export?: Selling abroad
What does IMF stand for?: International Monetary Fund
What is balance of trade?: Exports-imports
What is depreciation?: Value fall
What does WTO regulate?: Trade
What is the currency of the Euroepeean Union?: Euro
What does 'OPEC' stand for?: Organization of Petroleum Exporting Countries
What is the 'Balance of Trade'?: Export value minus Import value
What is a 'Tariff'?: A tax on imports
What is 'Appreciation' of a currency?: Increase in value
What is 'Free Trade'?: Trade without taxes or restrictions
What is 'Quota'?: A limit on quantity of imports
What is a 'Quota'?: A limit on quantity of imports
What is 'Appreciation'?: Currency gaining value
What is 'WTO'?: World Trade Organization
What is 'Tariff'?: Tax on imports
What is 'Exchange Rate'?: Value of one currency in another
What does 'FDI' stand for?: Foreign Direct Investment
What is 'Trade Surplus'?: Exports > Imports
What is 'Trade Deficit'?: Imports > Exports
What is 'Balance of Payments'?: Record of all transactions with other countries
What is 'Fair Trade'?: Trade ensuring fair prices for producers
What is 'Import'?: Buying from another country
The international organization established in 1995 to regulate and facilitate global trade is the...: World Trade Organization (WTO)
Which international trade model suggests that countries will export products that use their abundant and cheap factors of production, and import products that use their scarce factors?: Heckscher-Ohlin model
The historical economic policy that aimed to maximize exports and minimize imports, often by accumulating precious metals, is known as:: Mercan'tilism
Which landmark 1944 agreement established the International Monetary Fund and epeegged major global currencies to the US dollar?: The Bretton Woods Agreement
In international trade, what is the practice of a country exporting a product at a price that is lower than the price it charges in its own home market?: Dumping
Which economic paradox observed that the United States, despite being the most capital-abundant country in the world, actually exported labor-intensive goods and imported capital-intensive goods?: The Leontief paradox
A tax imposed by a government on imported goods and services to protect domestic industries is called a:: Tariff