The global financial crisis of 2007-2008 resulted in a(n) ________ of the Swiss franc as foreign currency flowed ________ the country. As result, Swiss products became ________ competitive in world markets

The foreign exchange market refers to:

a. a physical place in the heart of New York City's financial district, where traders come to trade other currencies. b. a collection of all purchases and sales of one currency for another,where exchange rates are determined. c. the discount window of the Federal Reserve. d. the commodity futures market.

Positive externalities ______

a. are not important economically b. should be reduced through subsidiziation c. are undersupplied by unfettered markets d. can be ignored