Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. imports; 2. specialization; 3. flexible exchange rate; 4. 1. imports; 2. specialization; 3. flexible exchange rate; 4. balance of trade;balance of trade;

_____difference between the value of a nation’s exports and _____difference between the value of a nation’s exports and its imports.its imports.

_____arrangement in which the forces of supply and demand _____arrangement in which the forces of supply and demand are allowed to set the price of various currencies.are allowed to set the price of various currencies.

_____concept that a nation should produce and export a _____concept that a nation should produce and export a limited assortment of goods for which it is particularly suited limited assortment of goods for which it is particularly suited in order to use its resources most efficiently.in order to use its resources most efficiently.

_____goods bought from other countries for domestic use._____goods bought from other countries for domestic use.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. imports; 2. specialization; 3. flexible exchange rate; 4. 1. imports; 2. specialization; 3. flexible exchange rate; 4. balance of trade;balance of trade;

____44__difference between the value of a nation’s exports and __difference between the value of a nation’s exports and its imports.its imports.

____33__arrangement in which the forces of supply and demand __arrangement in which the forces of supply and demand are allowed to set the price of various currencies.are allowed to set the price of various currencies.

____22__concept that a nation should produce and export a __concept that a nation should produce and export a limited assortment of goods for which it is particularly suited limited assortment of goods for which it is particularly suited in order to use its resources most efficiently.in order to use its resources most efficiently.

____11__goods bought from other countries for domestic use.__goods bought from other countries for domestic use.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. tariff; 2. embargo; 3. developing nations; 4. subsistence 1. tariff; 2. embargo; 3. developing nations; 4. subsistence agriculture;agriculture;

_____tax placed on an imported product._____tax placed on an imported product.

_____complete restriction on the import or export of a _____complete restriction on the import or export of a particular good or goods going to or coming from a specific particular good or goods going to or coming from a specific country.country.

_____nations with little industrial development and relatively _____nations with little industrial development and relatively low standards of living.low standards of living.

_____growing just enough food by a family to take care of its _____growing just enough food by a family to take care of its own needs; no crops are available for export or to feed an own needs; no crops are available for export or to feed an industrial workface.industrial workface.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. tariff; 2. embargo; 3. developing nations; 4. subsistence 1. tariff; 2. embargo; 3. developing nations; 4. subsistence agriculture;agriculture;

____11__tax placed on an imported product.__tax placed on an imported product.

____22__complete restriction on the import or export of a __complete restriction on the import or export of a particular good or goods going to or coming from a specific particular good or goods going to or coming from a specific country.country.

____33__nations with little industrial development and relatively __nations with little industrial development and relatively low standards of living.low standards of living.

____44__growing just enough food by a family to take care of its __growing just enough food by a family to take care of its own needs; no crops are available for export or to feed an own needs; no crops are available for export or to feed an industrial workface.industrial workface.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. foreign aid; 2. capital flight; 3. global integration; 1. foreign aid; 2. capital flight; 3. global integration; 4. multinationals; 4. multinationals;

_____the legal or illegal export of currency or money capital _____the legal or illegal export of currency or money capital from a nation by that nation’s leaders.from a nation by that nation’s leaders.

_____interdependency among the countries of the world, _____interdependency among the countries of the world, especially within financial markets and telecommunications.especially within financial markets and telecommunications.

_____firms that do business and have offices or factories in _____firms that do business and have offices or factories in many countries.many countries.

_____money, goods and services given by governments and _____money, goods and services given by governments and private organizations to help other nationals and their private organizations to help other nationals and their citizens.citizens.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. foreign aid; 2. capital flight; 3. global integration; 1. foreign aid; 2. capital flight; 3. global integration; 4. multinationals; 4. multinationals;

____22__the legal or illegal export of currency or money capital __the legal or illegal export of currency or money capital from a nation by that nation’s leaders.from a nation by that nation’s leaders.

____33__interdependency among the countries of the world, __interdependency among the countries of the world, especially within financial markets and telecommunications.especially within financial markets and telecommunications.

____44__firms that do business and have offices or factories in __firms that do business and have offices or factories in many countries.many countries.

____11__money, goods and services given by governments and __money, goods and services given by governments and private organizations to help other nationals and their private organizations to help other nationals and their citizens.citizens.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. foreign affiliates; 2. stabilization policies; 3. 1. foreign affiliates; 2. stabilization policies; 3. protectionists; 4. exports;protectionists; 4. exports;

_____people who argue for trade restrictions to protect _____people who argue for trade restrictions to protect domestic industries.domestic industries.

_____branches of multinational firms._____branches of multinational firms.

_____attempts by the federal government to keep the _____attempts by the federal government to keep the economy healthy; includes monetary and fiscal policies.economy healthy; includes monetary and fiscal policies.

_____goods sold to other countries._____goods sold to other countries.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. foreign affiliates; 2. stabilization policies; 3. 1. foreign affiliates; 2. stabilization policies; 3. protectionists; 4. exports;protectionists; 4. exports;

____33__people who argue for trade restrictions to protect __people who argue for trade restrictions to protect domestic industries.domestic industries.

____11__branches of multinational firms.__branches of multinational firms.

____22__attempts by the federal government to keep the __attempts by the federal government to keep the economy healthy; includes monetary and fiscal policies.economy healthy; includes monetary and fiscal policies.

____44__goods sold to other countries.__goods sold to other countries.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. comparative advantage; 2. fixed rate of exchange; 1. comparative advantage; 2. fixed rate of exchange; 3. depreciation; 4. import quota; 3. depreciation; 4. import quota;

_____system under which a national government sets the _____system under which a national government sets the value of its currency in relation to a single standard.value of its currency in relation to a single standard.

_____ability of a country to produce a product at a lower _____ability of a country to produce a product at a lower opportunity cost than another country.opportunity cost than another country.

_____restriction imposed on the number of units of a _____restriction imposed on the number of units of a particular good that can be brought into the country.particular good that can be brought into the country.

_____loss of value because of wear and tear to durable goods _____loss of value because of wear and tear to durable goods and capital goods; fall in the price of a currency through the and capital goods; fall in the price of a currency through the action of supply and demand.action of supply and demand.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. comparative advantage; 2. fixed rate of exchange; 1. comparative advantage; 2. fixed rate of exchange; 3. depreciation; 4. import quota; 3. depreciation; 4. import quota;

____22__system under which a national government sets the __system under which a national government sets the value of its currency in relation to a single standard.value of its currency in relation to a single standard.

____11__ability of a country to produce a product at a lower __ability of a country to produce a product at a lower opportunity cost than another country.opportunity cost than another country.

____44__restriction imposed on the number of units of a __restriction imposed on the number of units of a particular good that can be brought into the country.particular good that can be brought into the country.

____33__loss of value because of wear and tear to durable goods __loss of value because of wear and tear to durable goods and capital goods; fall in the price of a currency through the and capital goods; fall in the price of a currency through the action of supply and demand.action of supply and demand.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. benefit; 2. North American Free Trade Agreement 1. benefit; 2. North American Free Trade Agreement (NAFTA); 3. European Union; 4. infant mortality rate;(NAFTA); 3. European Union; 4. infant mortality rate;

_____death rate of infants who die during the first year of life._____death rate of infants who die during the first year of life.

_____help_____help

_____agreement designed to reduce and gradually eliminate _____agreement designed to reduce and gradually eliminate tariff barriers between Mexico, Canada and the United States.tariff barriers between Mexico, Canada and the United States.

_____organization of European nations whose goal is to _____organization of European nations whose goal is to encourage economic integration as a single market.encourage economic integration as a single market.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. benefit; 2. North American Free Trade Agreement 1. benefit; 2. North American Free Trade Agreement (NAFTA); 3. European Union; 4. infant mortality rate;(NAFTA); 3. European Union; 4. infant mortality rate;

____44__death rate of infants who die during the first year of life.__death rate of infants who die during the first year of life.

____11__help__help

____22__agreement designed to reduce and gradually eliminate __agreement designed to reduce and gradually eliminate tariff barriers between Mexico, Canada and the United States.tariff barriers between Mexico, Canada and the United States.

____33__organization of European nations whose goal is to __organization of European nations whose goal is to encourage economic integration as a single market.encourage economic integration as a single market.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. economic assistance; 2. technical assistance; 3. 1. economic assistance; 2. technical assistance; 3. bureaucracies; 4. enhance; bureaucracies; 4. enhance;

_____loans and outright grants of money or equipment to _____loans and outright grants of money or equipment to other nations.other nations.

_____aid in the form of engineers, teachers, and technicians to _____aid in the form of engineers, teachers, and technicians to teach skills to individuals in other nations.teach skills to individuals in other nations.

_____offices and agencies of the government that each deal _____offices and agencies of the government that each deal with a special area.with a special area.

_____improve._____improve.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. economic assistance; 2. technical assistance; 3. 1. economic assistance; 2. technical assistance; 3. bureaucracies; 4. enhance; bureaucracies; 4. enhance;

____11__loans and outright grants of money or equipment to __loans and outright grants of money or equipment to other nations.other nations.

____22__aid in the form of engineers, teachers, and technicians __aid in the form of engineers, teachers, and technicians to teach skills to individuals in other nations.to teach skills to individuals in other nations.

____33__offices and agencies of the government that each deal __offices and agencies of the government that each deal with a special area.with a special area.

____44__improve.__improve.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. telecommunications; 2. direct foreign investment; 3. 1. telecommunications; 2. direct foreign investment; 3. foreign affiliates; 4. exchange rate;foreign affiliates; 4. exchange rate;

_____the price of one nation‘s currency in terms of another _____the price of one nation‘s currency in terms of another nation’s currency.nation’s currency.

_____branches of multinational firms._____branches of multinational firms.

_____the purchase by foreigners of real estate and businesses _____the purchase by foreigners of real estate and businesses in another country.in another country.

_____long-distance communication, usually electronic, using _____long-distance communication, usually electronic, using communications satellites and fiber-optic cables.communications satellites and fiber-optic cables.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. telecommunications; 2. direct foreign investment; 3. 1. telecommunications; 2. direct foreign investment; 3. foreign affiliates; 4. exchange rate;foreign affiliates; 4. exchange rate;

____44__the price of one nation‘s currency in terms of another __the price of one nation‘s currency in terms of another nation’s currency.nation’s currency.

____33__branches of multinational firms.__branches of multinational firms.

____22__the purchase by foreigners of real estate and __the purchase by foreigners of real estate and businesses in another country.businesses in another country.

____11__long-distance communication, usually electronic, using __long-distance communication, usually electronic, using communications satellites and fiber-optic cables.communications satellites and fiber-optic cables.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. manipulate; 2. World Trade Organization (WTO); 3. 1. manipulate; 2. World Trade Organization (WTO); 3. developed nations; 4. confiscation; developed nations; 4. confiscation;

_____nations with relatively high standards of living and _____nations with relatively high standards of living and economies based more on industry than on agriculture.economies based more on industry than on agriculture.

_____world’s largest trade agreement currently with more _____world’s largest trade agreement currently with more than 140 nations.than 140 nations.

_____influence, control._____influence, control.

_____taking over industries by governments without paying _____taking over industries by governments without paying for them.for them.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words1. manipulate; 2. World Trade Organization (WTO); 3. 1. manipulate; 2. World Trade Organization (WTO); 3. developed nations; 4. confiscation; developed nations; 4. confiscation;

____33__nations with relatively high standards of living and __nations with relatively high standards of living and economies based more on industry than on agriculture.economies based more on industry than on agriculture.

____22__world’s largest trade agreement currently with more __world’s largest trade agreement currently with more than 140 nations.than 140 nations.

____11__influence, control.__influence, control.

____44__taking over industries by governments without paying __taking over industries by governments without paying for them.for them.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. military assistance; 2. transform; 3. substitute; 4. 1. military assistance; 2. transform; 3. substitute; 4. fundamental; fundamental;

_____change._____change.

_____aid given to a nation’s armed forces._____aid given to a nation’s armed forces.

_____basic._____basic.

_____replacement._____replacement.

Mr. Weiss

Unit 6 Vocabulary WordsUnit 6 Vocabulary Words

1. military assistance; 2. transform; 3. substitute; 4. 1. military assistance; 2. transform; 3. substitute; 4. fundamental; fundamental;

____22__change.__change.

____11__aid given to a nation’s armed forces.__aid given to a nation’s armed forces.

____44__basic.__basic.

____33__replacement.__replacement.