Developed by the IMF to Cope with Universally Floating Exchange

question 36

Multiple Choice

Developed by the IMF to cope with universally floating exchange rates, _____ represent(s) an average base of value derived from the value of a group of major currencies.

• A) exchange permits
• B) special drawing rights
• C) floating currencies
• D) the gold rate
• E) dollar parities

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Definitions:

Unity

A state or condition of being one; in economics, it might refer to a unity of purpose or action among individuals or entities.

Nondiscriminating

A term used in various contexts to describe actions or policies that apply uniformly to all members of a group without exceptions based on any specific characteristics.

Pure Monopolist's Demand Curve

Represents the market demand curve since the monopolist is the sole provider of the product or service, hence facing the market demand directly.

Inelastic

Describes demand that does not significantly change with a change in price.