When Argentina Adopted a Currency Board, It Set the Exchange

question 74

Multiple Choice

When Argentina adopted a currency board, it set the exchange rate at ________ peso(s) to the dollar, meaning that for every peso in circulation, it needed ________ in reserve.

• A) 10; 10 cents
• B) one; five dollars
• C) one; one dollar
• D) one; one gram of gold
• E) None of these answers is correct.

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Definitions:

Simplify

To simplify means to reduce an expression or equation to its simplest form, by combining like terms, reducing fractions, etc.

Combine

The process of uniting two or more expressions into a single expression using mathematical operations.

Simplify

The process of making an expression easier to understand or work with by combining like terms, reducing fractions, etc.

Rational Model

A mathematical model that uses rational expressions to describe relationships between different quantities.