2. Mr. Weiss Unit 6 Vocabulary Words 1. imports; 2. specialization; 3. flexible exchange rate; 4. balance of trade; _____difference between the value of a nation’s exports and its imports. _____arrangement in which the forces of supply and demand are allowed to set the price of various currencies. _____concept that a nation should produce and export a limited assortment of goods for which it is particularly suited in order to use its resources most efficiently. _____goods bought from other countries for domestic use.

3. Mr. Weiss Unit 6 Vocabulary Words 1. imports; 2. specialization; 3. flexible exchange rate; 4. balance of trade; __4__difference between the value of a nation’s exports and its imports. __3__arrangement in which the forces of supply and demand are allowed to set the price of various currencies. __2__concept that a nation should produce and export a limited assortment of goods for which it is particularly suited in order to use its resources most efficiently. __1__goods bought from other countries for domestic use.

4. Mr. Weiss Unit 6 Vocabulary Words 1. tariff; 2. embargo; 3. developing nations; 4. subsistence agriculture; _____tax placed on an imported product. _____complete restriction on the import or export of a particular good or goods going to or coming from a specific country. _____nations with little industrial development and relatively low standards of living. _____growing just enough food by a family to take care of its own needs; no crops are available for export or to feed an industrial workface.

5. Mr. Weiss Unit 6 Vocabulary Words 1. tariff; 2. embargo; 3. developing nations; 4. subsistence agriculture; __1__tax placed on an imported product. __2__complete restriction on the import or export of a particular good or goods going to or coming from a specific country. __3__nations with little industrial development and relatively low standards of living. __4__growing just enough food by a family to take care of its own needs; no crops are available for export or to feed an industrial workface.

6. Mr. Weiss Unit 6 Vocabulary Words 1. foreign aid; 2. capital flight; 3. global integration; 4. multinationals; _____the legal or illegal export of currency or money capital from a nation by that nation’s leaders. _____interdependency among the countries of the world, especially within financial markets and telecommunications. _____firms that do business and have offices or factories in many countries. _____money, goods and services given by governments and private organizations to help other nationals and their citizens.

7. Mr. Weiss Unit 6 Vocabulary Words 1. foreign aid; 2. capital flight; 3. global integration; 4. multinationals; __2__the legal or illegal export of currency or money capital from a nation by that nation’s leaders. __3__interdependency among the countries of the world, especially within financial markets and telecommunications. __4__firms that do business and have offices or factories in many countries. __1__money, goods and services given by governments and private organizations to help other nationals and their citizens.

8. Mr. Weiss Unit 6 Vocabulary Words 1. foreign affiliates; 2. stabilization policies; 3. protectionists; 4. exports; _____people who argue for trade restrictions to protect domestic industries. _____branches of multinational firms. _____attempts by the federal government to keep the economy healthy; includes monetary and fiscal policies. _____goods sold to other countries.

9. Mr. Weiss Unit 6 Vocabulary Words 1. foreign affiliates; 2. stabilization policies; 3. protectionists; 4. exports; __3__people who argue for trade restrictions to protect domestic industries. __1__branches of multinational firms. __2__attempts by the federal government to keep the economy healthy; includes monetary and fiscal policies. __4__goods sold to other countries.

10. Mr. Weiss Unit 6 Vocabulary Words 1. comparative advantage; 2. fixed rate of exchange; 3. depreciation; 4. import quota; _____system under which a national government sets the value of its currency in relation to a single standard. _____ability of a country to produce a product at a lower opportunity cost than another country. _____restriction imposed on the number of units of a particular good that can be brought into the country. _____loss of value because of wear and tear to durable goods and capital goods; fall in the price of a currency through the action of supply and demand.

11. Mr. Weiss Unit 6 Vocabulary Words 1. comparative advantage; 2. fixed rate of exchange; 3. depreciation; 4. import quota; __2__system under which a national government sets the value of its currency in relation to a single standard. __1__ability of a country to produce a product at a lower opportunity cost than another country. __4__restriction imposed on the number of units of a particular good that can be brought into the country. __3__loss of value because of wear and tear to durable goods and capital goods; fall in the price of a currency through the action of supply and demand.

12. Mr. Weiss Unit 6 Vocabulary Words 1. benefit; 2. North American Free Trade Agreement (NAFTA); 3. European Union; 4. infant mortality rate; _____death rate of infants who die during the first year of life. _____help _____agreement designed to reduce and gradually eliminate tariff barriers between Mexico, Canada and the United States. _____organization of European nations whose goal is to encourage economic integration as a single market.

13. Mr. Weiss Unit 6 Vocabulary Words 1. benefit; 2. North American Free Trade Agreement (NAFTA); 3. European Union; 4. infant mortality rate; __4__death rate of infants who die during the first year of life. __1__help __2__agreement designed to reduce and gradually eliminate tariff barriers between Mexico, Canada and the United States. __3__organization of European nations whose goal is to encourage economic integration as a single market.

14. Mr. Weiss Unit 6 Vocabulary Words 1. economic assistance; 2. technical assistance; 3. bureaucracies; 4. enhance; _____loans and outright grants of money or equipment to other nations. _____aid in the form of engineers, teachers, and technicians to teach skills to individuals in other nations. _____offices and agencies of the government that each deal with a special area. _____improve.

15. Mr. Weiss Unit 6 Vocabulary Words 1. economic assistance; 2. technical assistance; 3. bureaucracies; 4. enhance; __1__loans and outright grants of money or equipment to other nations. __2__aid in the form of engineers, teachers, and technicians to teach skills to individuals in other nations. __3__offices and agencies of the government that each deal with a special area. __4__improve.

16. Mr. Weiss Unit 6 Vocabulary Words 1. telecommunications; 2. direct foreign investment; 3. foreign affiliates; 4. exchange rate; _____the price of one nation‘s currency in terms of another nation’s currency. _____branches of multinational firms. _____the purchase by foreigners of real estate and businesses in another country. _____long-distance communication, usually electronic, using communications satellites and fiber-optic cables.

17. Mr. Weiss Unit 6 Vocabulary Words 1. telecommunications; 2. direct foreign investment; 3. foreign affiliates; 4. exchange rate; __4__the price of one nation‘s currency in terms of another nation’s currency. __3__branches of multinational firms. __2__the purchase by foreigners of real estate and businesses in another country. __1__long-distance communication, usually electronic, using communications satellites and fiber-optic cables.

18. Mr. Weiss Unit 6 Vocabulary Words 1. manipulate; 2. World Trade Organization (WTO); 3. developed nations; 4. confiscation; _____nations with relatively high standards of living and economies based more on industry than on agriculture. _____world’s largest trade agreement currently with more than 140 nations. _____influence, control. _____taking over industries by governments without paying for them.

19. Mr. Weiss Unit 6 Vocabulary Words 1. manipulate; 2. World Trade Organization (WTO); 3. developed nations; 4. confiscation; __3__nations with relatively high standards of living and economies based more on industry than on agriculture. __2__world’s largest trade agreement currently with more than 140 nations. __1__influence, control. __4__taking over industries by governments without paying for them.

20. Mr. Weiss Unit 6 Vocabulary Words 1. military assistance; 2. transform; 3. substitute; 4. fundamental; _____change. _____aid given to a nation’s armed forces. _____basic._____replacement.

21. Mr. Weiss Unit 6 Vocabulary Words 1. military assistance; 2. transform; 3. substitute; 4. fundamental; __2__change. __1__aid given to a nation’s armed forces. __4__basic. __3__replacement.