Compared to Workers in Europe and Elsewhere Around the World,U

question 30

Multiple Choice

Compared to workers in Europe and elsewhere around the world,U.S.skilled workers

• A)were paid less but still enjoyed a better lifestyle.
• B)still lagged behind in income and standard of living.
• C)fared about the same in pay and belongings.
• D)had considerably more money and goods.

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Definitions:

London Interbank Offer Rate

An interest rate average calculated from estimates submitted by leading banks in London that indicates the rate at which banks lend to one another.

Eurodollar Loans

Financial loans that are denominated in U.S. dollars but are held in banks outside the United States.

Overnight

In financial terms, this refers to transactions that are settled or occur from one business day to the next.

Cross-Rate

The exchange rate between two currencies calculated by using a third currency, typically the US dollar, as a reference point.