Label each statement below as either \"true\" or \"false.\" A country that allow

Question

Label each statement below as either "true" or "false." A country that allows demand and supply to be the sole determinant of the value of its currency has a managed float system. Under the gold standard, a country is generally unable to rapidly expand its money supply during an economic depression. Two examples of a managed float system are the gold standard and the Bretton Woods system. A system to which two countries agree to keep the exchange rate between their currencies constant over long periods is called a fixed exchange rate system. Today, modem economies no longer back the value of their currencies with gold.

Explanation / Answer

1 FALSE

2 TRUE

3 FALSE

4 TRUE

5 FALSE

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