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Describe Why the European Exchange Rate Mechanism (ERM)was Founded and How

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Describe why the European exchange rate mechanism (ERM)was founded and how it worked.


Definitions:

SES Household

Stands for Socioeconomic Status household, indicating a family or living situation characterized by social, economic, and educational dimensions.

Memory Enhancing Drug

Any pharmacological substance that claims or has been proven to improve memory function, recall abilities, or other aspects of cognitive processing.

Chess Pieces

The movable objects placed on a chessboard which are used to play the game of chess, each having specific movements.

Randomly

In a way that lacks any predictable order or plan, often used in the context of selecting samples or assigning participants in experiments.

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