In the Long Run,under a System of Flexible Exchange Rates

question 13

Multiple Choice

In the long run,under a system of flexible exchange rates

• A) countries' gold revenues will be proportional to their trade balances.
• B) the exchange rate between any two currencies will reflect price level differences between the two countries.
• C) currency markets will no longer play an important role in international trade.
• D) most countries will have balance-of-trade surpluses.
• E) the foreign currency reserves of all countries will approach zero.

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Definitions:

More Responsibility

Refers to the additional duties or tasks assigned to an individual, often indicating trust and confidence in their capabilities.

Job Enlargement

The process of adding more tasks or responsibilities to an employee's role in order to increase job diversity and employee satisfaction.

Unions

Organizations that represent the collective interests of workers in negotiations with employers regarding wages, work conditions, and benefits.

Job Enrichment

The process of making a job more satisfying and engaging through adding duties that involve different skills or increasing levels of responsibility.