Key Terms

Match each of the terms on the left with its definition on the right. Click on the term first and then click on the matching definition. As you match them correctly they will move to the bottom of the activity.

Question

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Imports, p. 572

Exports, p. 572

Globalization, p. 572

Ricardian model of international trade, p. 573

Autarky, p. 574

Factor intensity, p. 579

Heckscher–Ohlin model, p. 579

Domestic demand curve, p. 582

Domestic supply curve, p. 582

World price, p. 582

Exporting industries, p. 586

Import-competing industries, p. 586

Free trade, p. 588

Trade protection, p. 588

Protection, p. 588

Tariff, p. 588

Import quota, p. 590

Balance of payments accounts, p. 592

Balance of payments on current account (current account), p. 594

Balance of payments on goods and services, p. 594

Merchandise trade balance (trade balance), p. 594

Balance of payments on financial account (financial account), p. 594

Foreign exchange market, p. 599

Exchange rates, p. 599

Appreciation, p. 599

Depreciation, p. 599

Equilibrium exchange rate, p. 600

Real exchange rate, p. 602

Purchasing power parity, p. 604