Ch 5 MULTIPLE CHOICE
1. A trade _ is an economic condition in which a nation imports more than it exports.
2. Protectionism is similar to mercantilism as they both advocated _.
dividing the nations of the world i
Chapter 5Trading Internationally
1. Trade deficit occurs when a nation exports more than it imports.
REF: p. 5
OBJ: LO: 5-1
KEY: Bloom's: Knowledge
DIF: Difficulty: Easy
NAT: BUSPROG: Analytic
2. Both exporting and importing are t
- Emerging Economies:
BRIC: Brazil, Russia, India and China.
Sometimes BRICS: Brazil, Russia, India, China and South Africa.
Triad: North America, Western Europe and Japan.
Group of 20: Argentina, Australia, Brazil, Canada, China, France, Ge
Article about US trade deficit with China (READ ARTICLE)
Blackboard Ford Motors and the Chicken Tax (LISTEN ON BB)
Ownership Location and Internalization (OLI)
Law of one price (PPP)