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13 cards from this deck
Records financial asset/liability transactions internationally
Tracks capital transfers & non-produced asset ownership changes
Adam Smith
David Ricardo
Lowest opportunity cost
Taxes imposed on imported goods
Limits on quantity of goods imported
Government financial support to domestic businesses
Lower average costs from larger market production
Regulates/facilitates trade, resolves disputes
NAFTA (USMCA), EU single market
Raw materials & precious metals
GATT (General Agreement on Tariffs & Trade)
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