All of the following are true concerning the flexible exchange rate system except one. Which is the exception?
a. It is the same as a floating exchange rate system.
b. It is a system in which supply and demand determine the exchange rate.
c. Government officials have little direct role in the foreign exchange market.
d. Exchange rates may fluctuate considerably from time to time.
e. Exchange rates are fixed by the central banks of the various countries.
E
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Real GDP per person averaged $150 a year (in 2009 dollars) from 1,000,000 BC until 1620. Then in ________ real GDP began to increase without limit and by 1850 had risen to twice its 1650 level because ________
A) 1650; the Pilgrims arrived in the Americas B) 1750; Columbus arrived in the Americas C) 1650; of the Industrial Revolution D) 1750; of the Industrial Revolution E) 1776; United States was founded
Consumers expect that the price of a gallon of gasoline will rise next week. As a result
A) today's supply of gasoline increases. B) today's demand for gasoline increases. C) the price of a gallon of gasoline falls today. D) next week's supply of gasoline decreases.
If you study 3 hours for an exam, you can raise your score by 30 points. If you study for another 3 hours your score increases by 10 points. And if you study for another 3 hours, your score will increase by 5 more points
A graph displaying this relationship between the number of hours studied and your total exam score would show A) a positive linear relationship B) an upward-sloping curve that becomes less stee
A public choice is
A) a decision that affects one person. B) a decision that affects no one. C) a decision made in public. D) a decision that affects an entire society.