From 1944 to 1971, the Exchange Rate Between Any Two

question 101

Multiple Choice

From 1944 to 1971, the exchange rate between any two currencies was typically:​

• A) ​fixed within narrow boundaries.
• B) ​floating, but subject to central bank intervention.
• C) ​floating, and not subject to central bank intervention.
• D) ​nonexistent; that is, currencies were not exchanged, but gold was used to pay for all foreign transactions.

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