Question

Which scenario best illustrates the need for currency exchange

A people paying for things when traveling in a foreign country
B people trading goods and services across state lines
C people trading apples for oranges at a local market
D people paying for things when traveling in another state

Answer 1

Currency exchange would not be used if you are paying for things in your home town, or home state.
Currency exchange usually takes place in an airport. What can you deduce from those facts?

Answer 2

A.

Answer 3

Good. :)

Answer 4

That's correct.

Answer 5

can you help me some more

Answer 6

plz

Answer 7

War breaks out near Country A and B, limiting trade with nearby nations. Country A has a single
resource economy and Country B has a diversified economy. Which country is more at risk for economic
problems

A Country A is more at risk because it has many types of products that it must find new
trade partners to buy
B Country A is more at risk because it has fewer types of goods to attract new trade
partners
C Country B is more at risk because it has fewer types of goods to attract new trade
partners
D Country B is more at risk because it does not have natural resources

Answer 8

Ok so if they are at war they will not want to trade with each other
Country A has a since resource economy meaning that they don't have a lot of exports (things that are traded away to other countries) if country B does have a lot of exports their economy will do well because they will be able to find other countries that will be interested in trading for their multiple goods.

Answer 9

So there is no way that the answer could include Country B being at risk.

Answer 10

so would it be c

Answer 11

It can't be C because Country B is in no way at risk. Only Country A is because they only have one resource to trade other countries with

Answer 12

oh

Answer 13

so it would be b then

Answer 14

good job! That's correct.

Answer 15

If you need any other help or questions answered just message me and I'll get back to you ASAP as long as the question is in my range of capabilities to answer. :)

Answer 16

thank you i have one last question

Answer 17

Ok, shoot.

Answer 18

If the United States had a higher GDP per capita than Australia, then what could we say was
true

A Citizens of Australia enjoy a higher standard of living than citizens of the United States
B Australia produces more goods and services in total than the United States
C The amount of goods and services produced per citizen is higher in the United States
than it is in Australia
D The amount of goods and services consumed per citizen is higher in the United States
than it is in Australia.

Answer 19

Hmm... usually GPA isn't based upon standard of living and goods and services but we'll see.
So personally I would say that it means that children in the United States just study harder. But if you take into account the goods and services... Just give me a second to think

Answer 20

ok

Answer 21

So if you think about it, a higher amount of goods and services will allow people to do better. so if America is doing better then Australia what can you deduce?

Answer 22

C

Answer 23

That is the answer I would choose. I'm not 100% sure it's true. More like 90% That question is a bit tougher than the others.