International Trade and Money summary [Level] Questions and Answers 2023
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How do nations interact in trade? - -Goods & services, flows of money, and investment -What kind of trend do US imports & exports as shares of GDP have? - -Upward -How does the US have money to ... pay for greater imports than exports? - -Foreigners' investments in the US economy -Gains From Trade defined - -Countries being made better off via international trade -Patterns of trade - -Who sells what to whom -Some differences that could be responsible for export/import specializations - -Labor productivity; supplies and use in production of capital, labor, and land -Tariff - -Tax on imports/exports -Quota - -Quantity restriction on imports/exports -Export subsidies - -A payment to producers that export -Are trade policies often for special interest groups or for a nation as a whole? - -Special interest groups [Show More]
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