2.2.5 Net trade (X-M) Flashcards
1
Q
Exchange rate
A
The price of one countries currency in relation to another
2
Q
Net primary income
A
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3
Q
Net secondary income
A
????
4
Q
Net trade
A
The balance between the monetary value of exports and imports
5
Q
Protectionism
A
restricting trade through tariffs and other forms of import controls such as quotas
