Lesson 6 Examination please read these instructions before you begin to answer the questions that follow. app. You may. C This paper exam is here for your convenience. Your final answers must be submitted through our may complete the exam direct on file provided in the app or upload a copy of this handwritten effort. When you are satisfied that your answers are correct, use the app to download a file for this lesson, complete and submit to your teacher for grading. Only answers included on the submitted file will be considered for grading. Matching: Match the terms in Group I with the correct descriptions in Group II. Write or type the letter of the correct answer in the space provided. Note: there will be more terms in Group I than you will need. (1 point each) Group I A. World Trade Organization E. Trade war I. Absolute advantage B. NAFTA F. Euro J. Protectionism C. European Union G. Import quota K. Customs duty D. Appreciation H. Comparative advantage L. Export Group II 1. The ability of one person or nation to produce a good at an opportunity cost that is lower than that of another person or nation 2. The use of trade barriers to protect a nation's industries from foreign competition 3. An organization founded to ensure compliance with GATT 4. A trade organization made up of only European nations 5. An agreement that will eliminate all tariffs and other trade barriers between Canada, Mexico, and the United States 6. A limit on the amount of a good that can be imported 7. A good that is sent to another country for sale 8. The ability of one person or nation to produce a particular good at a lower cost than another person or nation 9. Name of the new currency accepted by most members of the European Union 10. A tax paid on certain items purchased abroad