Terms : Hide Images
| 9881516822 | Equilibrium World Price | The equilibrium world levels of exports and imports when the world is open to trade | 0 | |
| 9881534344 | Trade Adjustment Systems Act | US Federal Program to act as a way to reduce the damaging impact of imports felt by certain sectors of the US economy | 1 | |
| 9881549833 | Voluntary Export Restriction | A trade barrier by which foreign firms voluntarily limit the amount of exports to a particular country | 2 | |
| 9881554664 | Terms of Trade | rate at which units of one product can be exchanged for units of another product | 3 | |
| 9881559448 | Business Cycle | Recurring increases and decreases in the level of economic activity over periods of years with a peak, trough, expansion, and recession phase | 4 | |
| 9881569291 | Offshoring | Shifting work previously done by American workers to workers located in other nations | 5 | |
| 9881579038 | Dumping | Selling of excess goods in a foreign market at a price below cost | 6 | |
| 9881589283 | Import Quota | Maximum amount of a commodity that may be imported in any period of time | 7 | |
| 9881592942 | Domestic Price | Price that would prevail in a closed economy that does not engage in international trade | 8 | |
| 9881600443 | Protective Tariff | Designed to shield domestic producers from foreign competition | 9 | |
| 9881608238 | Nontariff Barrier | A licensing requirement that specifies unreasonable standards pertaining to product quality and safety or unnecessary bureaucratic red tape that is used to restrict imports | 10 | |
| 9881623423 | Export Supply Curve | Shows the amount producers will export at each world price | 11 | |
| 9881641416 | World Trade Organization | Oversees trade agreements and rules on disputes relating to them. Provides forums for further rounds of trade negotiation | 12 | |
| 9881657331 | Comparative Advantage | Total output is greatest when each good is produced by the nation that has the lowest domestic opportunity cost for that good | 13 | |
| 9881668468 | Tariff | A tax imposed by a nation on imported goods | 14 | |
| 9881686933 | World Equilibrium Graph |  | 15 |
