Henry Leland

question 56

Multiple Choice

Henry Leland

• A)was the first automobile producer to use the movable assembly line.
• B)was the first automobile producer to manufacture a standardized engine with interchangeable parts.
• C)sold millions of cars at a small unit of profit that allowed his company to dominate the industry.
• D)all of the choices are true.

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Definitions:

Central Bank

An institution that manages a country’s currency, money supply, and interest rates, often overseeing the commercial banking system of their country or monetary union.

Foreign-exchange Reserves

Assets held on reserve by a central bank in foreign currencies, used to back liabilities and influence monetary policy.

Flexible Exchange-rate System

An exchange rate regime in which a currency's value is allowed to fluctuate according to the foreign exchange market.

European Euro

The official currency used in 19 of the 27 European Union countries, known as the Eurozone.