In 1973,the Reform of the International Monetary System Resulted in the Change

question 64

Multiple Choice

In 1973,the reform of the international monetary system resulted in the change from:

• A) Adjustable pegged rates to managed floating rates
• B) Managed floating rates to adjustable pegged rates
• C) Crawling pegged rates to freely floating rates
• D) Freely floating rates to crawling pegged rates

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Definitions:

Production Possibilities

A curve or frontier that shows the various combinations of different goods that an economy can produce, given its technology and resources.

Absolute Value

The distance of a number from zero on the number line, disregarding any sign it might have, making it always a non-negative value.

Budget Line

A visual depiction of every potential mix of two products that a consumer can purchase, considering their income and the cost of these items.

Linear Relationship

A direct relationship between two variables that can be represented by a straight line on a graph.