17-3 vocabulary jw
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| A place where currencies of different countries is bought and sold. | Foreign exchange market
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| The price of a currency in the currencies of other nations. | Foreign exchange rate
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| The currency of one nation is fixed, or constant, in relation to other currencies. | Fixed rate of exchange
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| A system in which the exchange rate for currency changes as supply and demand for the currency changes. | flexible rate of exchange
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| A measure of the international value of the dollar. | Trade-weighted value of the dollar
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| The difference between the value of a nations imports and their exports. | Balance of trade
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| A record of all the transactions that occurred between the individuals, businesses, and government units of one nation and those of the rest of the world. | Balance of payments
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| A nation exports more than they import | trade surplus
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| a nation imports more than they export | trade deficit
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