The use of foreign exchange reserves to keep exchange rates constant over time is called
A) a fixed exchange rate system.
B) the Bretton Woods system.
C) barter exchange system.
D) a floating exchange rate system.
Answer: A
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Scarcity is a concept that applies to all of the following except
A. time. B. natural resources. C. human wants. D. machinery.
Developing countries with large informal sectors tend to have firms that invest less in capital equipment
Indicate whether the statement is true or false
The collapse of the Bank of Credit and Commerce International, BCCI, showed the difficulty of international banking regulation. BCCI operated in more than ________ countries and was supervised by the small country of ________
A) 70, Luxembourg B) 100, Monaco C) 70, Monaco D) 100, Luxembourg
The consumer price index is
A) an average of the prices of the goods and services purchased by the typical family. B) the cost of a market basket of goods and services typically consumed in a base year. C) the cost of a market basket of goods and services typically consumed in the current year. D) an average of the prices of new final goods and services produced in the economy over a period of time.