The Founding of the Yale Drama Department (Now Known as the Yale

question 16

Multiple Choice

The founding of the Yale Drama Department (now known as the Yale School of Drama)

• A)signaled an expanded commitment on the part of American higher education to train and educate future theatre artists.
• B)was at the community theatre level.
• C)was considered a waste of funding.
• D)was not an important part of American theatre history.

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Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources.

Lower Cost

A situation where there is a reduction in the total expense required to produce goods or services.

Exchange Rate

The exchange rate determining the worth of one currency in a different currency.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to specialized production and trade benefits.