The Value of a Fixed Exchange Rate in Contemporary Economies

question 76

Multiple Choice

The value of a fixed exchange rate in contemporary economies is

• A) determined by the supply and demand for a currency in the foreign exchange market.
• B) set by the government,usually in terms of gold or some other precious metal.
• C) set by the government,usually in terms of the currency (or basket of currencies)of the country's major trading partner(s).
• D) set by agreement of the central banks of the major trading countries of the world determined by economic forces.
• E) set at a value equal to the average of the fundamental exchange rate over the previous five years.

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