eliminat-trude rter-beeween meeter countries and D) global anion 47 The value of
ID: 1108657 • Letter: E
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eliminat-trude rter-beeween meeter countries and D) global anion 47 The value of a currency is theoretically determined by he demmand and supply of that currescy relative to the demand and supply of B) aconsortium of international currency traders C) the World Trade Organseation negotiations between the central banks of the leading five industrial powers of the world D) 48, If you purchase Y1,000,000 with $10,000, the exchange rate must be: A) Y1,000 5I B) $10-Y1,000,000 C) Y100SI D) You cannot cakculate an exchange rate based on the information provided E Both B and C above are corect 49. Based on the above, you expect the value of the Y to rise against the S by 50%, now, the relative value would be: A) YS00 S B) Y1,000 .50 C) Y50 S E) Both C and D above are corect Finally, based on the above, you convert your Y back into dollars, you now have: A) $10,000 B) $20,000 C) $100,000 D) $200,000 50. E) You cannot calculate an exchange rate based on the information provided Which of the following selections accurately depicts the levels of economic integration from least integrated to most integrated? 51. Free trade area, customs union, common market, monetary union, economic union, and full political union A) B) Common market, economie union, monetary union, full political union, free trade area, and customs C) Full political union, free trade area, common market, customs union, monetary union, and economic D) Free trade area, common market, monetary union, economic union, customs union, and full political union union unionExplanation / Answer
Question 46
When countries form a group in order to eliminate trade barriers among them or create free trade area among them but also formulate and adopt a common external trade policy with respect to non-member countries then such countries are said to be forming customs union.
So,
A Customs Union eliminates trade barriers between member countries and adopts a common external trade policy.
Hence, the correct answer is the option (B).
Question 47
In theoritical sense, the value of currency is determined by the market forces of demand and supply.
In other words, the interaction of demand and supply of a country's currency relative to the demand and supply of other currencies determine the value of said country's currency.
Hence, the correct answer is the option (A).
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