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Describe the particular policy mix that accounts for the favorable economic conditions of the late 1990s.Be sure to specify the fiscal and monetary policies pursued during this period.
Exchange Rates
The worth of a single currency when converted into another, indicating the comparative value between two currencies.
Profit
The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes associated with the activity.
Covered Interest Arbitrage
A strategy that involves converting currency through the spot exchange market, investing in foreign interest bearing securities, and hedging exchange risk through the forward market to earn riskless profit.
Forward Rate
The predicted interest rate for a loan or investment for a specific period in the future, differing from current rates.
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