International Trade and Economic Activities Quiz

A tax imposed on imported goods to increase their price and make them less competitive.

The total value of goods and services produced within a country's borders in a given period.

A trade deficit can lead to increased domestic consumption and investment, stimulating economic growth.

China is known for its significant export of various goods globally.

A strategy used by a country to limit its exports voluntarily to maintain stability in international trade.

An international organization that sets the rules for global trade and resolves disputes between member countries.

Investments made by a company or individual in one country in business interests in another country.

Punitive measures imposed on a country or countries to enforce adherence to trade regulations.

The Consumer Price Index (CPI) measures inflation by tracking the changes in prices of a basket of goods and services.

The United States is known for its significant imports of goods from various countries.

The theory that countries should produce and export goods in which they have a comparative advantage.

The WTO is an international organization that regulates global trade and resolves disputes between member countries.

An economic theory advocating that countries should accumulate wealth, especially gold and silver, by exporting more than importing.

The IMF provides financial assistance to member countries facing balance of payments problems to stabilize their economies.

The theory that countries should specialize in and export goods they can produce relatively more efficiently than other goods, regardless of absolute productivity levels.