Some Nations Such as Ecuador Chose Dollarization Because

question 157

Multiple Choice

Some nations such as Ecuador chose dollarization because:

• A) the currency was depreciating so rapidly it became nearly worthless.
• B) Ecuadorians wanted to save dollars for eventual emigration to the United States.
• C) the Ecuadorian currency was backed by gold, which was confiscated by government officials.
• D) All of these are reasons why such countries chose dollarization.

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