The Slowdown of the World Economy During the 1980's and Early

question 49

True/False

The slowdown of the world economy during the 1980's and early 1990's gave industrial countries the ability to turn outward to address any internal problems of slow growth and unemployment.

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Definitions:

Opportunity Cost

Opportunity cost represents the value of the best alternative forgone when a decision is made to choose one option over another.

Bushel

A measure of volume that is used primarily for agricultural crops, with the exact measurement differing by product.

Bananas

A type of elongated, edible fruit produced by several kinds of large herbaceous flowering plants in the genus Musa.

Comparative Advantage

The ability of a country or firm to produce a particular good or service more efficiently than other goods or services, relative to other countries or firms.