Appreciation is when the domestic currency increases in price against a
foreign currency. Depreciation means
which of the following?
A. The value of the domestic currency has decreased
relative to foreign currencies.
B. The value of the domestic currency has increased
relative to foreign currencies.
C. The value of foreign currencies has decreased
relative to the domestic currency.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.