<p>If a nation artificially lowers the value of its currency, it can gain competitive trade advantages. True</p><p>When the dollar is strong, goods and services imported into the U.S. cost less. True</p><p>A currency, like a product, has a price. True</p><p>Occurs when a country sells more than it buys. </p><p>Goods and services grown or made in one country then sold in world markets.</p><p>The concept that the cost of producing something declines as the number of units produced rises.</p><p>A policy of limited government trade restrictions.</p><p>An international organization that mediates trade disputes among member nations and establishes fair trade practices.</p><p>The U.S. is the world’s largest importer of manufactured goods.</p><p>More than half of the world’s imports are intermediate goods that are used to produce other goods.</p><p>Any action taken to control or limit imports.</p><p>The benefit to the party that has the lower opportunity cost in pursuing a given course of action.</p><p>Globalization refers to the ever growing interconnection of economies among all the countries of the world.</p><p>Globalization decreases the flow of labor.</p><p>A ______is a business that is controlled by another business.</p><p>______occurs when companies move sections of their business to other companies or subsidiaries.</p><p>The value of a nation’s currency can be affected by changes in interest rates.</p><p>Moving sections of a business to another country. Occurs when a country buys more products than it sells.</p><p>Goods and services that come into a country from other countries.</p><p>In international trade, the balance of payments refers to ______.</p><p>The agency created to mediate trade disputes among nations and establish trade practices that are acceptable and fair to all is the ______.</p><p>A(n) ______is a tax on imports that makes them more expensive to consumers.</p><p>The sale of products in foreign markets at low prices in order to eliminate competition is considered a fair trade practice by the U.S.</p><p>Globalization refers to the ______.</p>