Teacher

Read and Review - Chapters 5, 6, 7, & 8. Ch. 5 - pg 109; Any seven-spot (7) terms & definitions. * Comparative Advantage- A situation in which a person or inelegant can impart to a specific product at a sink 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 another(prenominal) nation, so a dollar buys a larger meat of foreign currency so of foreign costlys. * Depreciation: A go down in the value of the dollar relative to another currency so a dollar buys a little amount of the foreign currency and therefore of foreign goods. * exporting Subsidies: government activity payments to domestic producers to enable them to reduce the impairment of a good or service to foreign buyers. * discussion pastures: The rate of exchange of champion nations currency for another nations currency. * hos tile Exchange Market: A market in which the plate of one nation can be used to leverage the money of another nation; currency market. * Import Quota: A get imposed by a nation on the measure of a good that may be merchandise during some period of time. Ch. 5 - pgs 110 & 111; hear Questions; 1, 2, 3, 5, and 8 (answers only). 1.

The four major economic flows are -the flows of goods and run (trade) -the flows of capital equipment and weary (resources) -the flows of information and technology (information) -the financial flows (money). 2. global trade is genuinely important in the unite Stat es parsimoniousness because it brings in re! venue. 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 internationally we are bringing in revenue. In terms of batch 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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