Which of the Following Rose Substantially in Value Against Most

question 79

Multiple Choice

Which of the following rose substantially in value against most other currencies as well as served as a reserve asset in many countries during the global economic and financial crises of 2008-2009?

• A) U.S. dollar
• B) Australian dollar
• C) Indian Rupee
• D) Peso
• E) Yen

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Definitions:

Shortage

A situation in which the demand for a product or service exceeds the supply available at a particular price.

Non-price Factors

Variables other than price that affect the demand and supply of goods and services, such as consumer preferences, income, and technology.

Price Ceiling

A legal maximum price that can be charged for a good or service, intended to protect consumers from high prices.

Quantity Supplied

Quantity supplied refers to the total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.