Government: Lesson 5 The U.S. in a Global Economy

The United States tries to promote economic stability around the world by

providing economic aid.

Who has the ultimate authority to approve trade alliances between the United States and other countries?

Congress

For Americans, the biggest potential negative effect of a global economy is that

companies may build factories abroad in order to take advantage of cheaper labor.

Which activity by the United States would create a trade deficit?

importing more from another country than it exports to that country

It is possible to protect American industries from foreign competitors by

imposing tariffs.

China has risen in importance as a U.S. trading partner because it

is a source of cheap goods and services.

Opponents of NAFTA would have preferred to

keep tariffs in place on goods imported to the United States from Canada and Mexico.

The President of the United States can play a role in setting international trade policies by

negotiating trade agreements with economic allies.

If Uruguay's economy was on the verge of an economic crisis, it could seek financial assistance from

the IMF.