BUSMHR 2000 EXAM PACKAGE DEAL!!

Group of Twenty (G20) - ️️-Established in 1999. -Comprises the finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank. -Originally established to formulate a coordinated policy response...

voluntary export restraints - ️️a.An official agreement with another country that voluntarily restricts the quantity of its exports b.Quota on trade imposed by the exporting country, typically at the request of the importing country's government Ad Valorem Tariff - ️️can increase govern...

political union - ️️regional integration with no internal tariffs, common external tariffs, factor mobility allowed, common currency, monetary & fiscal policies, and common political institutions common market - ️️regional integration with no internal tariffs, common external tariffs, an...

Mercantilism - ️️1st theory of international trade- an economic policy under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by maximizing exports and minimizing imports Economic Motives - ️️the motivation to increase return throug...

Foreign producers agree to ________ imposed by an exporting country because they fear more damaging punitive tariffs or import quotas might follow if they do not. voluntary export restraints tariff rate quotas quota rents export bans Dumping - ️️voluntary export restraints High tariff bar...