The ability of an individual, firm, or country to produce a certain good at a lower opportunity cost than other producers is referred to as:

In the US, an increase in which of the following will cause an increase in US imports?

I. Per capita real income II. Price Level III. Real interest rates IV. Tariffs a. I and II only b. I and III only c. I and IV only d. I, II, and III only e. II, III, and IV only

What has been learned since 1973 with regards to the experience with floating exchange rate regime?

What will be an ideal response?