Under a "crawling peg" system, a country's exchange rate
A) is fixed except for small, surprise changes.
B) changes at a predetermined rate against the dollar or some other major currency.
C) can fluctuate within a narrow band.
D) can change, but the changes are kept secret from the public.
E) is determined by the central bank of another country.
B
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When a perfectly competitive market has fully adjusted to demand and supply conditions, all of the following are true except:
A) P = MC. B) P = the minimum of SRATC. C) P = the minimum of LRAC. D) P = the minimum of AVC.
Which of the following gives the best reason why the possibilities of today's economy are expanding?
A. Because the constraints that affect the economy change every day B. Because worldwide population continues to grow C. Because people are more enlightened today than in the past D. Because laws continue to change, making more activities legal