Wgu C211 Global Economics Already Passed

What are two polar types of economies? {Ans: Centrally planned, market}Civil Law {Ans: uses comprehensive statutes and codes as a primary means to form legal judgments.}Currency board {Ans: a monetary authority that issues notes and coins convertible into a key foreign currency at a fixed exchange rate.}Target exchange rates (or crawling band) {Ans: a limited policy of intervention, occurring only when the exchange rate moves out of the specified upper or lower bounds.}Comparative advantage {Ans: the relative (not absolute) advantage in one economic activity that one nation enjoys in comparison with other nations.}Bandwagon effect {Ans: the result of investors moving as a herd in the same direction at the same time.}Theory of comparative advantage {Ans: the relative (not absolute) advantage in one economic activity that one nation enjoys in comparison with other nations.}Spread {Ans: the difference between the offered price and the bid price.}Fixed rate {Ans: A government policy to set the exchange rate of a currency relative to other currencies.}Thrust {Ans: the classic frontal attack with brute forces.}