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C719

AS/AD Flow Chart

QuestionAnswer
Having the lowest opportunity cost. Comparative advantage
When a nation focuses on the production of a certain good or service. Specialization
A tax on imported goods Tariff
A limit on the quantity of imports Quota
Tariffs and Quotas are... Trade restrictions
Helped or hurt by trade restrictions? Domestic producers. Helped
Helped or hurt by trade restrictions? Domestic consumers. Hurt
Helped or hurt by trade restrictions? Foreign producers. Hurt
Helped or hurt by trade restrictions? Workers in the protected industry. Helped
Trade restrictions ____________ the price of the good restrictions are placed on. Increase
The US imposes a trade barrier on German cars. Which country's producers are helped? US
The US imposes a trade barrier on German cars. Which country's producers are Hurt? Germany
Argument that we should restrict trade on goods vital to our military. National Defense
An investment made by one country into another. Foreign Direct Investment
Trade restrictions are often put into place in order to protect certain... Jobs
A treaty between two or more nations setting rules for trade. Trade agreement
Created by: chawk69
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