A bilateral exchange rate is an exchange rate:
a. that has two sides: maximal and minimal.
b. has exhibited both appreciation and depreciation.
c. is a hybrid between fixed and floating.
d. between two currencies.
Ans: d. between two currencies.
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Competitive markets with no external costs or benefits and no government price ceilings, floors, taxes or subsidies ________ efficient. According to the "It's not fair if the rules aren't fair" idea of fairness, competitive markets ________ fair
A) are; are B) are; are not C) are not; are D) are not; are not
The Robinson-Patman Act strengthened the merger provisions of the Sherman Antitrust Act
a. True b. False Indicate whether the statement is true or false
To an economist, the word 'marginal' means:
A) total. B) average. C) next or additional. D) sunk. E) none of these choices.
What group is committed to lowering trade barriers between nations?
a. United Nations b. European Union c. World Trade Organization d. OPEC