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The purpose of foreign exchange futures agreements under flexible exchange rates is to
Federal Reserve Notes
Paper currency issued by the United States Federal Reserve System, serving as the most common form of U.S. paper money.
Standard of Value
A recognized measure that is used to set the price of goods and services in terms of a currency, facilitating trade and economic comparison.
Fiat Money
Legal tender authorized by governmental entities, which is not underpinned by any material goods.
Fiat Money
Currency without intrinsic value that is established as legal tender by government regulation.
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