The ability of a firm or country to produce a good or service at a lower opportunity cost than other producers is called comparative advantage

Under the _____ arrangement, the exchange rate is adjusted periodically by small amounts at a fixed, pre-announced rate or in response to certain indicators

a. currency board b. crawling peg c. reserve currency d. conventional fixed peg e. independent float

The Great Depression was characterized by:

A. the Roaring Twenties. B. accelerated economic growth. C. unemployment exceeding 25 percent. D. firms rapidly expanding their borrowing rates.