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30 Cards in this Set

  • Front
  • Back
firm based thoeries of international trade are useful in understanding trade in
differentiated goods, e.g automobiles and consumer electronics
modern supporters of merchantilism are called
the _______thory says that most trade in manufactured goods should be between countries with sismiliar per capita GDP
Country similarity
In the______stage of the international product life -cycle the innovating firms country is a net importer of the product
who developed the theory of national competitive advantage?
Michael Porter
______factors do not influence a firms decision to undertake foreign direct investment.
relative endowment
the ______establishes the rules by which countries value and exchange their currencies
international monetary fund
the gold standard created a ___system
the fixed exchange rate
In 1944 the bretton Woods conferees agreed to
renew the gold standard
loans from the world bank may not be used to finance
trade deficits
the ______account records a nation's gold, convertible currencies, SDR's and reserve position at the IMF
official reverves
The ____shows the net balance resulting from merchandise trade, service trade, investment income and gifts.
Current accounts
the _____sets monetary policy for the European Union
European central bank
a____quoate is the price of some foreign currency in terms of a home country
what percentage of foreign-exchange transactions are spot transactions
A currency whose forward price is less than the spot price is elling at
a forward discount
_______is riskless purchase of a product in one market for immediate reslae in another to profit from a price difference
When an oversees bank is separately incorporated from the parent bank, it is called a _______bank
the argument that holds that acountry must be self sufficient in critical raw materials, machinery, and technology is
the national defense argument
the _____startegy says that a nation should encourage firms to compete abroad by explioting some advantage that they have
export promotion
A ___tariff is levied as goods move through one counrty on the way to another
____make it more difficult for inporters of non essential goods to acquire foreign exchange
currency controls
A ___Zone is a geographic area where imported or exported goods recieve preferential tax treatment.
foreign trade
The ___is the ifrst to investigat ecomplaints fro firms affected by alledged unfair trade practices in the u.s.A
International trade administration
Which countries are granted most-favored -nation status under the GATT
any GATT-member country as a minimum
the European Union now has
27 members
the european court of justice sits in
the EU uses a ________in areas such as health, consumer policy, and free movement of workers
co-decision procedure
Which of these in NOT a member of the European free trade Association
According to the provisions of the NAFTA the USA may bar foreign ownership of the ___industry