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In Response to the Overvalued Dollar in the Early 1970s,the

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In response to the overvalued dollar in the early 1970s,the German Bundesbank bought ________ and sold ________ to keep the exchange rate fixed,gaining international reserves.


Definitions:

Fishery

An area with a naturally occurring population of aquatic species which can be harvested for economic purposes.

Marine Animal

An animal that inhabits the ocean or other marine environments.

User Cost

The economic cost of using a resource today, which considers the lost opportunity of using it in the future.

Energy

The capacity to do work, manifested in physical forms such as heat, light, motion, and chemical energy, crucial to all aspects of life and industry.

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