International Trade and Macroeconomic Indicators Quiz

CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

WTO aims to ensure fair and open international trade by establishing rules and resolving disputes among member countries.

GDP measures the total economic output of a country and is a key indicator of its economic health.

Tariffs are taxes on imports, intended to protect domestic industries by making foreign goods more expensive.

A current account surplus indicates that a country's exports exceed its imports.

Balance of Trade measures the difference between a country's exports and imports of goods.

Dumping involves selling goods in a foreign market at prices below production costs to gain a competitive advantage.

FDI involves the long-term investment by a foreign entity in the productive capacity of another country.

Neoliberalism emphasizes free-market policies, reduced government intervention, and increased economic liberalization.

IMF provides financial assistance to countries in need, especially during balance of payments crises.

IMF aims to promote global monetary cooperation, exchange rate stability, and facilitate the expansion and growth of international trade.

Triffin Dilemma refers to the conflict of goals when a national currency serves both national and international purposes.

Terms of Trade measure the relative prices of a country's exports to its imports.

Impossible Trinity highlights the incompatibility of three key goals in international finance.

Comparative advantage is the ability of a country to produce a good more efficiently, with a lower opportunity cost, than another country.