The Phenomenon of Foreign Currency Driving Out Local Currencies as a Means

question 29

Multiple Choice

The phenomenon of foreign currency driving out local currencies as a means of payment and a savings vehicle is known as ________.

• A) seigniorage
• B) dollarization
• C) sterilization
• D) devaluation

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Definitions:

Pituitary

A small, pea-sized gland located at the base of the brain, functioning as the master gland by producing and releasing hormones that regulate many body functions.

Steroid Hormone

Lipid-based hormones that pass through cellular membranes and bind to specific receptors to alter gene expression.

Protein-Type Hormone

Hormones that are composed of chains of amino acids and interact with cell surface receptors; they include insulin and growth hormones.

Cellular Level

The level of organization that includes cells, the basic structural and functional units of all living organisms.