Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
the amount by which exports exceed imports
|
trade surplus
|
|
|
goods and services produced domestically and sold abroad
|
exports
|
|
|
the rate at which people can trade the goods and services of one country for those of another country
|
real exchange rate
|
|
|
taking advantage of two prices for the same commodity by buying where it is cheap and selling where it is expensive
|
arbitrage
|
|
|
the rate at which people can trade one currency for another currency
|
nomimnal exchange rate
|
|
|
a decrease in the value of a currency measured in terms of other currencies
|
depreciation
|
|
|
an economy that does not interact with other economies
|
closed economy
|
|
|
the value of exports minus the value of imports or the trade balance.
|
net exports
|
|
|
the theory that a unit of a countries currency should buy the same quantity of goods in all countries
|
purchasing-power parity
|
|
|
an increase in the value of a currency measured in terms of other currencies
|
appreciation
|
|
|
an economy that interacts with other economies
|
open economy
|
|
|
the amount by which imports exceed exports
|
trade deficit
|
|
|
goods and services produced in foreign countires and sold domestically
|
imports
|
|
|
the purchase of foreign assets by domestic residents minus the purchase of domestic assets by foreigners
|
net capital outflow
|
|
|
a situation in which exports equal imports
|
balanced trade
|
