The International Monetary Fund (IMF)was Created to Promote Trade Through

question 98

True/False

The International Monetary Fund (IMF)was created to promote trade through financial cooperation.

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Definitions:

Fiat Money

Currency that a government has declared to be legal tender, but it is not backed by a physical commodity and derives its value solely from the trust that the currency will be accepted as a form of payment.

Store of Value

An asset, commodity, or currency that retains its value over time, allowing it to be saved, retrieved, and exchanged at a later time.

Board of Governors

The leading body of the Federal Reserve System, overseeing the U.S. banking system.

Fed

The Federal Reserve System, which is the central banking system of the United States, responsible for monetary policy.