An Exchange-Rate System in Which the Nominal Exchange Rate Is

question 67

Multiple Choice

An exchange-rate system in which the nominal exchange rate is set by the government is known as

• A)a flexible exchange-rate system.
• B)a floating exchange-rate system.
• C)a fixed exchange-rate system.
• D)an exchange-rate union.

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Definitions:

Herd Animals

Animals that naturally live, travel, and graze in groups, displaying collective behavior for protection and efficiency.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to significant changes in society and the economy through the introduction of new technologies and processes.

Technological Revolution

A period of rapid technological change and innovation that significantly alters industries, economies, and societies.

Scientific Revolution

A period of significant advancements and developments in the fields of science during the 16th and 17th centuries, fundamentally changing the understanding of the natural world.