"I Know It! It's Um

question 38

Multiple Choice

"I know it! It's um ...um ... ," begins a trivia-game contestant excitedly.The contestant is engaged in a test of her _____ memory.

• A)external
• B)explicit
• C)internal
• D)implicit

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Definitions:

Bretton Woods System

A monetary management system established in 1944 that set up rules for commercial and financial relations among major countries, including fixed exchange rates and the creation of the International Monetary Fund (IMF) and World Bank.

Fixed Exchange Rates

are currency exchange rates set and maintained by government policy, rather than fluctuating in response to market forces.

Independent Monetary Policy

This is a policy framework where a country's central bank has the autonomy to implement monetary policies, such as setting interest rates, without direct interference from the government, to achieve macroeconomic stability.

International Gold Standard

A monetary system in which countries tie the value of their currencies to a specific amount of gold, facilitating stable exchange rates and international trade.