Which exchange rate is determined in international currency exchange markets?
a) Fixed exchange rate
b) Floating or flexible exchange rate
c) Pegged exchange rate
d) Prime exchange rate
Ans: b) Floating or flexible exchange rate
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Which of the following statements is true?
A) Lower wages are normally offered for jobs with better amenities. B) Jobs that are relatively risky pay a lower wage than other safer jobs. C) Educational qualifications and wage rates are negatively correlated. D) Incentives are normally higher for desirable occupations in comparison to undesirable occupations.
Discrimination that occurs when people's preferences cause them to discriminate against a certain group is referred to as:
A) group discrimination. B) special interest group discrimination. C) cultural discrimination. D) taste-based discrimination.