Study with Quizlet and memorize flashcards containing terms like if the exchange rate changes from $1 = 20 francs to $1 = 30 francs:, depreciation of the dollar will:, appreciation of the mexican peso will: and more.
•Different costs between countries opportunity cost ratio •Slope of the curve•Vegetables sacrificed per ton of beef (or vice versa)•U.S.: Slope of the curve = -1 (trade 30 vegetables for 30 beef); 1V = 1B•Mexico: slope of -2 (trade 20 vegetables for 10 beef); 2V =...
Links between local and larger Medt. econ Latifundias shift From planting crops for immediate local consumption to planting for export to larger Roman cities T/F: Different cities had different specialized industries based on what they could grow and produce ...