international trade MCQ 3

<p>Exports minus imports in monetary value (A)</p> Signup and view all the answers

<p>Rise in incomes in domestic economy and national debt increase (A)</p> Signup and view all the answers

<p>To make imports more expensive than domestically produced goods (A)</p> Signup and view all the answers

<p>Selling goods abroad at a lower price than in the domestic market (B)</p> Signup and view all the answers

<p>It makes exports more attractive in foreign markets (C)</p> Signup and view all the answers

<p>To ban all trade from a specific country (A)</p> Signup and view all the answers

<p>It protects domestic firms from foreign competition (A)</p> Signup and view all the answers

A record of all economic and financial transactions between residents of a country and the rest of the world.

Economic growth, high dependency on exports, and demand-pull inflation.

It indicates the country is spending more on imports than it is earning from exports, potentially leading to a rise in national debt.

The difference between exports and imports, expressed in monetary value.

It can lead to a rise in incomes in the domestic economy and an increase in national debt.

A tax imposed on imported goods to make them more expensive than domestically produced goods.

Selling goods abroad at a lower price than in the domestic market.

It makes exports more attractive in foreign markets, increasing demand for the country's goods.

A complete ban on all trade with a specific country, usually for political or economic reasons.

It protects them from foreign competition during their early stages of development, allowing them to grow and become competitive.