In order to break their dependence on the United States, Europe created the highly ineffectual ________

What is one of the major drawbacks of a fixed exchange rate?

a. Countries that have chronic balance of trade deficits run out of foreign currency. b. It discourages investment between countries. c. It encourages speculation in currencies. d. none of the above

The “Shanghai gain” is a(n)

a. faction within the Chinese Communist Party b. organized crime group c. group of prodemocracy activists that demonstrated in Tiananmen Square d. environmental group that protested against the Three Gorges Dam