chapter 3 d
| Description: | chapter 3 d |
| Category: | Accounting |
| Created by: | Pdawg on 2009-09-02 |
| Question | Answer |
| what are imports | items brought from other countries |
| what are exports | goods and services sold to other countries |
| what is balance of trade | the diference beteen a country's total exports and total imports |
| what is balance of payments | the difference between the amount of money that comes into a country and the amount that goes out of it |
| what is exchange rate | the value of a currency in one country campared with the value in another |
| what is infrastructure | a factor tht supports international trade in industrialized countries; including a nation's transportaation, communications, and utility systems |
| what is trade barrier | restriction to free trade |
| what is quota | a government set limit on the quantity of a product that may be imported or exported within a given period |
| what is tariff | a tax that a government places on certain imported products |
| what is embargo | an action imposed by the government to stop the export or import of a product completely |
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Recession phase of the business cycl3 in which demand begins to decreas business lower production, and unemployment rises prosperity peak of the business cycle is a perion in whcih mos people who want to work or willing to work |
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