Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. This is the system of _____
a. countertrade
b. floating exchange rates
c. dumping
d. contract manufacturing
ANSWER: b
Currency markets operate under a system of floating exchange rates, a system in which the prices of different currencies move up or down based on the demand for and supply of each currency. Global currency traders create the supply of and demand for a particular country's currency based on that country's investment, trade potential, and economic strength.
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Fill in the blank(s) with the appropriate word(s).
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