In Response to the Overvalued Dollar in the Early 1970s,the

question 5

Multiple Choice

In response to the overvalued dollar in the early 1970s,the German Bundesbank bought dollars and sold marks to keep the exchange rate fixed,gaining international reserves. The huge purchase of international reserves meant that the German monetary base began to ________,leading to ________ growth in the German money supply.

• A)decline;sluggish
• B)decline;rapid
• C)grow;sluggish
• D)grow;rapid

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