Beginning in the early 1970s, many nations abandoned their dollar standard and moved toward a system of:
A) fixed exchange rates based on gold.
B) fixed exchange rates based on the Deutsche Mark.
C) floating exchange rates.
D) real money systems in which currencies were backed by government bonds.
Ans: C) floating exchange rates.
You might also like to view...
For consumers, goods A and B are complementary goods. The cost of a resource used in the production of A decreases. As a result
A) the equilibrium price of B will fall and the equilibrium price of A will rise. B) the equilibrium price of B will rise and the equilibrium price of A will fall. C) the equilibrium prices of both A and B will rise. D) the equilibrium prices of both A and B will fall.
According to the Swiss Institute for Management Development, the top country in terms of productive efficiency is
A) Germany. B) Japan. C) Switzerland. D) the United States.