In the Early 2000s, Ecuador Replaced Its Currency, the Sucre

question 134

Multiple Choice

In the early 2000s, Ecuador replaced its currency, the sucre, with the U.S. dollar as its official currency. What would prompt a country to abandon its own currency and adopt the currency of the United States?

• A)With dollars, monetary policy will be better able to offset shock to the economy.
• B)Adopting the dollar will bring inflation under control, which will aid economic growth.
• C)In making the transition to dollars, corrupt government officials are able to amass tremendous fortunes.
• D)Adopting the dollar will result in the elimination of U.S. tariffs on exports from Ecuador to the United States.

Describe the impact of the Enlightenment and the communications revolution on colonial America, including shifts in religious practices and consumerism.

Identify the influences on and outcomes of educational and labor systems in colonial America, including the task and gang labor systems and the establishment of institutions like Dartmouth College.

Understand the dynamics of colonial economic and social systems, including the roles of indentured servants, redemptioners, and the impact of consumer goods like tea on colonial society.

Understand the different strategies enslaved men employed to earn extra money.

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Definitions:

Coffee

A brewed drink prepared from roasted coffee beans, which are the seeds of berries from the Coffea plant.

Salmon

A species of fish often considered for its health benefits and widely consumed around the world.

Comparative Advantage

Comparative advantage is an economic principle that posits a country or entity can produce a good or service at a lower opportunity cost than another, leading to more efficient trade possibilities.

Opportunity Cost

Forgoing the possibility of profit from various alternatives by choosing a specific one.