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l1 20 international trade and capital flows

This class was created by Brainscape user Steven Popovic. Visit their profile to learn more about the creator.

By: Steven Popovic
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Decks in this class (10)

International Trade and Capital Flows
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11  cards
a compare gross domestic product and gross national product;
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b describe benefits and costs of international trade;
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c distinguish between comparative advantage and absolute advantage;
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d explain the Ricardian and Heckscher–Ohlin models of trade and the source(s) of comparative advantage in each model;
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e compare types of trade and capital restrictions and their economic implications;
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f explain motivations for and advantages of trading blocs, common markets, and economic unions;
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g describe the balance of payments accounts including their components;
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h explain how decisions by consumers, firms, and governments affect the balance of payments;
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i describe functions and objectives of the international organizations that facilitate trade, including the World Bank, the International Monetary Fund, and the World Trade Organization.
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l1 20 international trade and capital flows

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