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Correct Answer: C) Advantages of tariffs include protecting domestic industries, generating revenue for the government, and reducing trade deficits. Disadvantages include higher prices for consumers, retaliation from other countries, and potential trade wars.
Correct Answer: B) Know where exactly the products come from.
Correct Answer: B) 30%.
Correct Answer: A) Amount of its gold reserves.
Correct Answer: A) European Union (EU).
Correct Answer: A) A group of countries that agree to trade more easily with each other.
Correct Answer: A) A physical good that has been sold to another country.
Correct Answer: B) Receipts from the sale of goods services to foreigners and payments for goods and services bought from foreigners.
Correct Answer: A) The movement of goods and services between different countries.
Correct Answer: B) Specialization.
Correct Answer: D) 1994.
Correct Answer: D) A measure of the international value of the dollar.
Correct Answer: B) Strong dollar.
Correct Answer: A) , (2), and (3).
Correct Answer: C) $437.50.
Correct Answer: D) All of the above.
Correct Answer: B) It's on me.
Correct Answer: A) Import, Export.
Correct Answer: A) Imports.
Correct Answer: B) Taxes on goods brought into a country.
Correct Answer: A) Reduce red tape and compliance costs for exporters (such as customs procedures), potentially boosting global trade by up to $1 trillion a year.
Correct Answer: B) Free Trade.
Correct Answer: A) Decreases money supply.
Correct Answer: C) Standards.
Correct Answer: B) Lower opportunity costs.