It Is Easier to Predict the ________ of a Change

question 86

Multiple Choice

It is easier to predict the ________ of a change than the ________ of a change in exchange rates.

• A)altitude; magnitude
• B)depth; length
• C)timing; depth
• D)direction; magnitude

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Definitions:

Absolute Advantage

A condition in which a country, individual, or company can produce a specific good at a lower cost in resources than another.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.

Knitting

The craft or action of creating fabric by interlocking loops of yarn using needles.

Baking

The process of cooking food by dry heat, typically in an oven.