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Social Studies, 18.01.2020 01:31 VamPL

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one country's ability to produce a given product relatively more efficiently than another country

a system that relies on supply and demand to determine the value of one currency in terms of another

the difference between money paid to and money received from other nations when engaged in trade

a system under which the values of currencies are fixed in relation to one another

one country's ability to produce more of a given product than another country

answer choices:

absolute advantage
floating exchange rates
fixed exchanged rates
balance of payments
comparative advantage

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Answers: 3

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