Teacher

Read and Review - Chapters 5, 6, 7, & 8. Ch. 5 - pg 109; Any cardinal (7) terms & definitions. * Comparative Advantage- A situation in which a person or province can make headway to a specific product at a scar down opportunity cost than any(prenominal) otherwise person or country; the basis for specialization and trade. * Appreciation: An increase in the value of the dollar relative to the coin of some other nation, so a dollar buys a larger meat of at odds(p) currency so of foreign costlys. * Depreciation: A go down in the value of the dollar relative to another currency so a dollar buys a littler amount of the foreign currency and therefore of foreign goods. * export Subsidies: government activity payments to domestic producers to enable them to reduce the monetary value of a good or service to foreign buyers. * interchange pastures: The rate of exchange of champion nations currency for another nations currency. * stra nge Exchange Market: A market in which the coin of one nation can be used to bargain for the money of another nation; currency market. * Import Quota: A get imposed by a nation on the measure of a good that may be trade during some period of time. Ch. 5 - pgs 110 & 111; arena Questions; 1, 2, 3, 5, and 8 (answers only). 1. The four major economic flows are -the flows of goods and service (trade) -the flows of capital equipment and weary (resources) -the flows of information and technology (information) -the financial flows (money). 2. supranational trade is genuinely important in the fall in States scrimping because it brings in revenue. of course there is a demand for goods and function that arent soft accessible to people in the states, so trading with other countries for something that is a demand in our country allows prices to increase thus pitch in more(prenominal) revenue for the United States. as well by exporting goods and services intern ationally we are bringing in revenue. In ter! ms of intensity the United States trades more with industrially advanced...If you want to get a full essay, establish it on our website: OrderCustomPaper.com

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