International trade is the exchange of ___ across international borders or territories

___ advantage refers to the capacity of a person or a country to produce a particular good at a lower absolute cost than another

Comparative advantage explains how trade can create value for ___ even when one produces all goods with fewer resources than the other

In the years since ___, controversial and multilateral treaties such as the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (many years later) have attempted to create a globally regulated structure of trade

Traditionally the agricultural interest of poor or developing countries are usually ___ free trade

The regulation of international trade is done through the ___ at the global level

Protectionism is closely aligned with the ___

What is the correct statement?

Tariffs can also be imposed at ___ (for example, China has imposed tariffs on Chinese rice exporters to prevent it from being sold in more attractive or profitable markets)

Dumping would cause ___

Export subsidies are often used by governments to ___ exports

A government can intervene in the exchange market to lower the value of its currency. However, such policy is only effective in the ___ term

An honest economic model would suggest that it would be better ___ its own price levels, and for non-economic agriculture to cease

Countries protect, mainly ___

___ is a common market with a common currency

In free trade areas, to avoid evasion (through re-export) countries use the certification at origin system more commonly called rules of ___

The purposes of establishing a customs union normally include ___ economic efficiency and establishing closer political and cultural ties among member countries

___ is the fifth phase of economic integration

Most of the WTO's objectives derived from planned trade negociations, especially the ___ Round

Consumers in rich countries buy processed products ___

The International Monetary Fund (IMF) is an organization formed to ___ international exchange rates and facilitate development

The European Union was established on November 1, ___

___ EU countries are members of NATO

Members of the European Parliament are electec ___

The ___ of the European Parliament performs the role of spokesperson in Parliament and represents it

The Council of the European Union Meets ___

The registration of operations in the Balance of Payments is carried out by the ___ banks of the different countries