In the Long Run,foreign Exchange Rates Are Determined By

question 21

Multiple Choice

In the long run,foreign exchange rates are determined by:

• A) an agreement between governments of the major industrial countries.
• B) economic fundamentals, such as productivity levels or price levels in different countries.
• C) the difference between the short-term and long-term interest rates in each country.
• D) the rate at which each country's currency can be exchanged for gold.

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