According to the Text, What Share of the World's Countries

question 24

Multiple Choice

According to the text, what share of the world's countries now use floating exchange rate systems?

• A) 100%
• B) 70%
• C) 30%
• D) 15%

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Definitions:

Purely Competitive Industries

Industries in which numerous small firms compete against each other, selling identical or very similar products, and where no single firm can influence market prices.

Innovate

The process of creating new ideas, products, or methods, often resulting in improved efficiency, effectiveness, or competitive advantage.

Economic Profits

The surplus remaining after subtracting total costs from total revenues, including both explicit and implicit costs.

Creative Destruction

A concept in economics that refers to the process by which new innovations lead to the demise of old technologies and economic structures, driving economic growth through renewal.