A Primary Result of the Smithsonian Agreement Was

question 77

Multiple Choice

A primary result of the Smithsonian Agreement was:

• A)the establishment of the European Monetary System (EMS).
• B)establishing that exchange rates of most major countries were to be allowed to fluctuate 2.25% above or below their initially set values.
• C)establishing specific rules for when tariffs and quotas could be imposed by governments.
• D)establishing that exchange rates of most major currencies were to be allowed to fluctuate freely without boundaries (although the central banks did have the right to intervene when necessary).

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Definitions:

Habituation

A decrease in response to a stimulus after repeated presentations, indicating a form of learning that involves becoming accustomed to the stimulus.

Sensitization

An increase in behavioral response after exposure to a stimulus.

Higher-order Conditioning

A form of conditioning in which a stimulus is paired with a previously conditioned stimulus, leading to the acquisition of the same conditioned response without being directly paired with the unconditioned stimulus.

Modeling

The process of learning behaviors by observing and imitating others, a key concept in social learning theory.