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17-3 vocabulary jw

QuestionAnswer
A place where currencies of different countries is bought and sold. Foreign exchange market
The price of a currency in the currencies of other nations. Foreign exchange rate
The currency of one nation is fixed, or constant, in relation to other currencies. Fixed rate of exchange
A system in which the exchange rate for currency changes as supply and demand for the currency changes. flexible rate of exchange
A measure of the international value of the dollar. Trade-weighted value of the dollar
The difference between the value of a nations imports and their exports. Balance of trade
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
A nation exports more than they import trade surplus
a nation imports more than they export trade deficit
Created by: joannw15
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