What Is Dollarization

question 6

Multiple Choice

What is dollarization?

• A)making the denominations of local currency identical to those in U.S. currency
• B)the process by which a country in whole or in part adopts the U.S. dollar as its official currency
• C)a price reduction strategy where everything within a country is sold at a rounded dollar amount
• D)the complete elimination of U.S. currency from a nation's economy
• E)the practice of a country's using the U.S. banking system for its transactions

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Definitions:

Walking Sticks

Mobility aids used to assist in walking, providing support and balance for individuals with mobility challenges.

Boomerangs

Traditionally, a curved throwing tool used for hunting, but in modern contexts, often refers to adult children returning to live in their parents' home.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than competitors.

Opportunity Cost

The consequence in terms of lost benefits from not selecting the immediate next preferable option when making a choice.