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Chapter 4 TB - Chapter 4 The International Monetary System...

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Chapter 4 The International Monetary System 1. Which of the following is not one of advantages for a flexible exchange rate system? A. countries can maintain independent monetary policy * B. exchange rates under a flexible system are unstable C. countries can maintain independent fiscal policy D. flexible exchange rates permit a smooth adjustment to external shocks E. Central banks do not need to maintain large reserves 2. Under the purely fluctuating exchange rate system, the balance of payments imbalances are automatically corrected by the following mechanism . * 3. Which of the following is not directly related to the Bretton Woods system? * 4. Which of the following is not directly attributable to the collapse of the fixed exchange rate system? *
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