chapter 18 economics

3 Written Questions

1. ability of a country to produce at a lower opportunity cost than another country
2. Agency that offers monetary advice and provides loans to developing nations
3. Goods sold to other countries

3 Multiple Choice Questions

1. goods bought from other countries for domestic use
   1. Devaluation
   2. Exports
   3. Absolute Adv
   4. Imports
2. markets dealing in buying and selling foreign currency for businesses that want to import goods from other countries
   1. Comparative Adv
   2. exchange rate
   3. Imports
   4. FEM (foreign exchange Market)
3. lowering a currency's value in relation to other currencies by gov order.
   1. Specialization
   2. Devaluation
   3. Exports
   4. Imports

3 True/False Questions

1. Specialization → lowering a currency's value in relation to other currencies by gov order.

   True        False

2. Absolute Adv → when a country can produce a product more efficiently than another country

   True        False

3. exchange rate → Goods sold to other countries

   True        False