Which of the Following Statements Is True About the Changes

question 67

Multiple Choice

Which of the following statements is true about the changes in the world monetary system since March 1973?

• A) The value of the U.S. dollar has never seen a fall ever since.
• B) Exchange rates have become much more volatile.
• C) Exchange rates have become more predictable.
• D) The fixed rate system was adopted to calculate exchange rates.
• E) The European monetary system as an institution has gained more prominence.

---

Definitions:

Human Choice

The decision-making process by individuals based on preferences, resources, and information available, emphasizing the role of decision in economic behavior.

Economic Policy

Strategies and actions taken by the government to manage its economic affairs, aiming at objectives like sustainable growth, high employment, and stable prices.

Utility

A measure of the satisfaction, usefulness, or value that a consumer receives from consuming a product or service.

Subjective Benefit

The personal value or advantage gained by an individual from a product or service, which varies from person to person.