Most Economists Trace the Breakup of the Fixed Exchange Rate

question 37

Multiple Choice

Most economists trace the breakup of the fixed exchange rate system to the:

• A)U.S.macroeconomic policy package of 1965-1968.
• B)Formation of the European Community in the late 1950s.
• C)Marshall Plan,under which the United States lent money heavily to European nations.
• D)Failure of the International Monetary Fund to impose monetary discipline.

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize and standardize laws across states.

Implied Warranty

A legal premise that goods sold meet certain criteria for use as understood by the buyer and seller, even if not explicitly stated.

Express Warranty

An explicitly stated guarantee by a seller regarding the condition or quality of a product.

Warranty of Title

A guarantee provided by a seller to a buyer that the seller has the right to transfer ownership and no undisclosed encumbrances exist.