The ___ of international trade is crucial for the permanence of globalization

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

For centuries, under the belief in Mercantilism, most nations ___

Today, ___ are the biggest supporters of free trade

During recessions there is often strong internal pressure to increase tariffs to protect domestic industries. This happened around the World during ___ (and now too)

The 2005 ___ Talks on the planned establishment of the Free Trade Area of the Americas (FTAA), in large parte, because of opposition form the population of Latin American nations

___ warned, famously, agains the "self-serving sophistry" of the industry, seeking to gain an advantage at the expense of consumers (in this situation, consumers would pay higher prices for products that can be purchased in other countries at a lower price).

The amount of the tariffs ___ the cost of the importers

Economists often suggest that ___

Government subsidies are to protect ___ jobs

A government can intervene in the exchange market to lower the value of its currency. Doing this ___

Setting artificial prices inevitably leads to distortions in production, with ___ of production being the usual result

Adam Smith's greatest work was ___

___ is a designated group of countries that have agreed to eliminate tariffs, quotas, and preferences on most (if not all) of the goods and services traded among them

An example of ___ is the agreement between the European Union and the group of African, Caribbean and Pacific states (ACP countries) until 2007

EFTA was established in ___

What countries make up MERCOSUR?

The World Trade Organization officially began under the ___ Agreement

The General Agreement on Tariffs and Trade (GATT), was established after the ___

What does it mean that a project loan is leveraged by a specific institution?

To which IMF Executive Director does the initials DSK stand?

In the European Union, a common currency, the euro, has been adopted by ___ member states

The President of the Commission and all other commissioners are nominated by ___

The Lisbon Treaty ___ the power and relevance of the European Parliament

The seat of the Council of the European Union is in Brussels, but it can meet in ___

The Court ___, fundamentally, deals with cases brought by member states, the institutions and cases referred to them by the courts of the member states

The Balance of Payments formula is ___