Today, Fixed Exchange Rates Are Used Primarily by Small, Developing

question 55

True/False

Today, fixed exchange rates are used primarily by small, developing countries that tie their currencies to a key currency such as the U.S.dollar.

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Definitions:

FOB Destination

A shipping term indicating that the seller retains ownership and responsibility for goods until they are delivered to the buyer's location.

Sales

The total amount of goods or services sold by a company during a specific period.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value.

Certificates of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate, held at a bank or financial institution.