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chapter 3 d

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Question
Answer
what are imports   items brought from other countries  
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what are exports   goods and services sold to other countries  
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what is balance of trade   the diference beteen a country's total exports and total imports  
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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  
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what is exchange rate   the value of a currency in one country campared with the value in another  
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what is infrastructure   a factor tht supports international trade in industrialized countries; including a nation's transportaation, communications, and utility systems  
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what is trade barrier   restriction to free trade  
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what is quota   a government set limit on the quantity of a product that may be imported or exported within a given period  
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what is tariff   a tax that a government places on certain imported products  
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what is embargo   an action imposed by the government to stop the export or import of a product completely  
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