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30 Cards in this Set
- Front
- Back
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what is the capital of Japan? |
Tokyo |
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Tokyo population |
9 million |
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Tokyo population if you include workforce |
nearly 40 million |
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economic size of Japan? |
free market economy with free floating currency system |
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current GDP of Japan |
$4.9 trillion |
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top 3 largest GDPs in the world |
1. US 2. China 3. Japan |
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japan's GDP per capita |
$38,500 |
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japan is the _____ richest country in the world |
23rd |
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Leaders of Japan? |
1. Prime minister: Shinzo Abe 2. Emperor Akihito |
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Japan's currency? |
Japanese Yen (JPY) |
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japan is the ___ most populous country |
10th |
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japans population? |
127 million |
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area underneath the demand curve and above the price |
consumer surplus |
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area underneath the price and above the supply curve |
producer surplus |
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a government tax placed on a good/service as it leaves, passes through, or enters into a country |
tariff |
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3 kinds of tariffs |
1. export tariff 2. transit tariff 3. import tariff |
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tax on a product as it leaves the country |
export tariff |
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tax on a product as it passes through |
transit tariff |
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tax on a product as it enters country- most important one |
import tariff |
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3 kinds of import tariffs |
1. ad valorem tariff 2. specific tariff 3. compound tariff |
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tax is a percentage of the stated price |
ad valorem tariff |
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tax is on a per unit basis |
specific tariff (actual $ amount) |
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combination of ad valorem and specific tariff |
compound tariff |
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Nontariff Barriers (4) |
1.subsidies 2. quotas 3. tariff quotas 4. voluntary export restrictions |
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direct assistance to domestic firms (e.g. tax breaks) |
subsidies |
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a limit on the number of units a foreign product entering into a domestic country |
quota |
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a combination of tariff/quota. low tariff on a certain # of foreign units, then a much higher tariff after a threshold |
tariff quotas |
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domestic country "asks" foreign country to limit exports |
voluntary export restrictions |
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any policy or practice that is designed to restrict or diminish international trade |
trade barriers |
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most common way to reduce trade? |
tariffs |
