INTERNATIONAL ECONOMICS (FEENSTRA AND TAYLOR) - CHAPTER QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
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Module
INTERNATIONAL ECONOMICS
Institution
INTERNATIONAL ECONOMICS
import
Ans: the purchase of a good or service from another country
Quiz: export
Ans: the sale of a good or service to another country
Quiz: merchandise goods
Ans: tangible or concrete goods, including mining, manufactured, and
agricultural goods
Quiz: service exports
Ans: all exported busi...
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INTERNATIONAL ECONOMICS (FEENSTRA AND
TAYLOR) - CHAPTER 12025- 2026 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
import
Ans: the purchase of a good or service from another country
Quiz: export
Ans: the sale of a good or service to another country
Quiz: merchandise goods
Ans: tangible or concrete goods, including mining, manufactured, and
agricultural goods
Quiz: service exports
Ans: all exported business services, including internet services, travel, and
transportation
Quiz: migration
Ans: the flow of people across borders as they move from one country to
another
Quiz: foreign direct investment (FDI)
, Ans: the flow of capital across borders when a firm owns a company in
another country
Quiz: trade balance
Ans: Exports - Imports
Quiz: trade surplus
Ans: trade balance of a country is positive, that is, exports > imports
Quiz: trade deficit
Ans: trade balance of a country is negative, that is, imports > exports
Quiz: bilateral trade balance
Ans: the difference between exports and imports between two specific
countries
Quiz: import tariffs
Ans: taxes on international trade, taxes levied by domestic governments
on purchases from foreign countries
Quiz: gross domestic product (GDP)
Ans: the value of all final goods and services produced in one year by a
particular country
Quiz: trade barriers
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