Examlex
Which of the following is likely to have the most price elastic demand?
Floating Exchange Rates
A system in which the value of a currency is determined by the forex market based on supply and demand relative to other currencies, unlike fixed exchange rates that are tied to a physical commodity or another currency.
Gold Convertible
A financial system where a country's currency has a fixed value in terms of gold, allowing it to be exchanged for a specified amount of gold.
Balance-of-Payment Deficits
A situation in the balance of payments where the payments made by a country for its imports, investments abroad, and other outflows are greater than the inflows from exports, foreign investments, etc.
Japanese Yen
The official currency of Japan, known globally as a major currency for trade and finance.
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