International trade is a ___ source of economic income for each nation that is considered a world power

___ advantage is the ability to produce a product more efficiently given the other products that could be produced

In the ___ century, especially in the UK, a belief in free trade became paramount

Many countries, (such as ___) are increasiling becoming advocates of free trade as they are becoming more economically powerful themselves

Many economists have tried to blame tariffs as the undelined reason behind the collapse in world trade that many seriously believe deepened the depression in the ___ years

Agreements such as the Multilateral Agreement of ___ (MAI) have also failed in recent years

All economists today agree that ___ is harmful only because its costs are greater that its benefits, and that hinders economic growth

The amount of the tariffs ___ the price of imported goods in local markets

Countries are sometimes accused of using various ___ rules (regarding food safety, environmental standards, electrical safety, etc.) as a way to introduce barriers to imports

Government subsidies are to help local businesses to ___ world markets

A government can intervene in the exchange market to lower the value of its currency, leading to ___ in its trade balance

The creation of "grain mountains" or fully filled silos, where huge reserves of unwanted grain are purchased directly from farmers at prices set by the CAP well ___ the market may be one example

The Wealth of Nations was published in the year ___

___ is a free trade area with a common external tariff

Indicate which is the correct statement:

What does the acronym EFTA mean?

An example of ___ is SACU (Southern African Customs Union)

The World Trade Organization replaces the ___

The ___ was to be a specialized agency of the United Nations and would be dedicated not only to barriers to trade but also to other issues indirectly related to trade, including employment, investment, restrictive business practices, and commodity agreements. But the Organization's treaty was approved neither by the United States nor by a few other signatories and never went into effect

The World Bank is one of the two main institutions created as a result of the Bretton Woods Conference in ___

The European Union (EU) is an economic and political union of ___ member states, located mainly in Europe

A common currency, the euro, has been adopted by nineteen member states constituting the ___

The appointment of the President of the Commission and, also, of the Commission as a whole, has to be confirmed by ___

The ordinary legislative procedure also involves ___ majority voting in the Council of the European Union

The meetings of the Council of the European Union are convened by ___, which sets its agenda

The decisions of the Court of First Instance can be ___ by the Court of Justice but only in a point of the law

The current account balance ___