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Under the Exchange Rate Mechanism of the European Monetary System,when

question 55

Multiple Choice

Under the Exchange Rate Mechanism of the European Monetary System,when the British pound depreciated below its lower limit against the German mark,the German central bank was required to buy ________ and sell ________,thereby ________ international reserves.


Definitions:

Constructive

Relating to or characterized by building up, improving, or contributing positively to something.

Significant

Having a particularly important, notable, or consequential value or impact.

Persistent Annoyance

A continuous or recurring irritation that may affect one's performance, mood, or interactions negatively.

Self-serving Bias

A cognitive bias where individuals attribute their successes to internal factors and their failures to external factors.

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