Trade flashcards

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The major goods exports of the United States are chemicals, semiconductors, consumer durables, and computers
The major goods imports of the United States are automobiles, petroleum, computers, and household appliances.
In terms of absolute dollar volume, the world's leading export nations are the United States, Germany, and Japan
What is Reciprical trade This is where two or more nations grant equally advantageous trade concessions to each other
What does the "most-favored-nation" clause of reciprocal trade agreements mean means that any tariff reductions the United States negotiates with a specific nation will automatically apply to many other nations.
What was the function of the Reciprocal Trade Agreements Act The Reciprocal Trade Agreements Act brought about considerable reductions in American trade barriers.
What is the primary benefits of international trade the more efficient use of world resources and higher living standards
A nation's true gain from international trade is an overall increase in output obtained through specialization and exchange

The major goods exports of the United States are

The major goods imports of the United States are

In terms of absolute dollar volume, the world's leading export nations are

What is Reciprical trade

What does the "most-favored-nation" clause of reciprocal trade agreements mean

What was the function of the Reciprocal Trade Agreements Act

What is the primary benefits of international trade

A nation's true gain from international trade is

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