Front

Which has more to do with opportunity cost? Options: absolute advantage, comparative advantage

Back

comparative advantage

Front

An increase in the value of currency is called

Back

appreciation

Front

In the short-run, tariffs help protect

Back

domestic jobs

Front

Floating/flexible exchange rates: values are determined by supply and demand

Back

values are determined by supply and demand

Front

Tax on trading is called a....

Back

Tariff

Front

What would be one consequence of a prolonged decline in the value of the euro relative to the U.S. dollar?

Back

European exports to the United States would become less expensive.

Front

If 1 USD costs 4 BRL (1 BRL=0.25 USD) and the BRL depreciates the new exchange rate could be

Back

1 BRL = 0.10 USD

Front

What is a decrease in the value of a currency?

Back

Depreciation

Front

A depreciation of a country's currency means for this country's residents that imported goods are

Back

More expensive

Front

An appreciation of a country's currency means that for foreigners this country's goods are

Back

More expensive