A. adopted a new system of fixed exchange rates
B. gave up trying to fix exchange rates formally and began allowing them to be determined essentially by supply and demand
C. adopted single internationally accepted currency whose use is limited to international transactions
D. returned to the gold standard
Related Mcqs:
- An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
A. relatively small; more difficult
B. relatively small; easier
C. relatively large; more difficult
D. relatively large; easier - A widely used indicator to differentiate developed countries from developing countries is ?
A. international trade per capita
B. real income per capital
C. unemployment per capita
D. calories per capita - The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
A. flying geese
B. import substitution
C. export orientation
D. commodity expansion - If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?
A. common market
B. free trade area
C. customs union
D. federation - When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - In 1990, during the Persian Gulf War, the U.S government extended generous terms to two middle-income countries by canceling or reducing their debt The two countries were ?
A. Iraq and Iran
B. Egypt and Poland
C. Pakistan and Afghanistan
D. Saudi Arabia and Jordan - A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?
A. free trade area
B. customs union
C. common market
D. monetary union - Which of the following countries are not newly industrialized countries (NICs) ?
A. Taiwan
B. North Korea
C. Singapore
D. Hong kong - Developing countries, if compared with other countries, have ?
A. a lower rate of illiteracy
B. a greater degree of equality in the income distribution
C. a lower infant mortality rate
D. a smaller percentage of the labor force in urban areas - What is the ratio of population density of developing countries to the population of developed countries ?
A. 10
B. 2
C. no more than 1
D. 20
