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definitions for econ 302 globalization international trade comparative advantage absolute advantage open economy/closed economy balance of trade trade barriers trade surplus/trade deficit exports/imports trade agreements

definitions for econ 302

globalization

international trade

comparative advantage

absolute advantage

open economy/closed economy

balance of trade

trade barriers

trade surplus/trade deficit

exports/imports

trade agreements

NAFTA

European Union

trade partners -who are the US primary trade partners

outsourcing

capital inflows and outflows

arbitrage

national savings and investment identity

financial capital

current account balance

trade agreement

dollarize

foreign exchange market

foreign direct investment

portfolio investment

hedge

appreciating

depreciating

weak dollar

strong dollar

exchange rates

relative inflation

purchasing power parity

arbitrage

floating exchange rate

soft pegs

hard pegs

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