Mylab Economics With Pearson Etext -- Access Card -- For Economics Today: The Macro View
12th Edition
ISBN: 9780133921304
Author: Miller, Roger LeRoy
Publisher: PEARSON
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Question
Chapter 33, Problem 11P
To determine
The difference between the Flexible and Fixed Exchange Rate system
Concept introduction:
Flexible Exchange Rate System- The system whereby the price of a currency is determined in the forex market by the forces of currency demand and supply vis-à-vis other currencies.
Fixed Exchange Rate System- The system whereby the price of the currency is the officially set exchange rate by the central bank. Thus, the government entirely or predominantly dominates the determination of the rate of exchange.
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