Figure 19-10 -Refer to Figure 19-10.Under the Bretton Woods System of Exchange

question 178

Multiple Choice

Figure 19-10
-Refer to Figure 19-10.Under the Bretton Woods System of exchange rates,if the par exchange rate was $2 per pound in the figure above,and equilibrium persisted at $3,then a revaluation of the currency would have

• A)increased the price of British exports to the United States.
• B)increased the price of imports to Britain.
• C)led to a current account surplus.
• D)led to a balance of trade surplus.

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Definitions:

Long-term Memory

A type of memory responsible for the storage of information over extended periods, anything from hours to a lifetime.

Sensory

Relating to sensation or the physical senses; transmitted or perceived by the senses.

Phonological

Pertaining to the system of sounds in a language and the rules for their combination and use.

Semantic Networks

A model for understanding human memory in which concepts are linked together based on their meanings and relationships.