Define the Following Terms

question 57

Short Answer

Define the following terms
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Definitions:

Fixed Exchange Rate

A currency system in which the value of a country's currency is tied to the value of another single currency, a basket of other currencies, or another measure of value, such as gold.

Trade Barriers

Trade Barriers are government-imposed restrictions on the free exchange of goods and services between countries, including tariffs, quotas, and subsidies.

Free Trade

An economic policy of not discriminating against imports from and exports to foreign jurisdictions, allowing goods to move freely across borders.

Floating Exchange Rate

A currency valuation system that allows the value of the currency to fluctuate according to the foreign exchange market.