Arrange the following exchange rate arrangements of international monetary system in chronological…
Tracing the historical evolution of the international monetary system from oldest to newest: early monetary systems operated under a Commodity Specie Standard…
Choose your answer
Arrange the following exchange rate arrangements of international monetary system in chronological order (Old to New):
A. Gold Standard
B. Commodity Specie Standard
C. Fixed Parity System
D. Floating Exchange Rate
Answer and explanation
Correct answer B
Tracing the historical evolution of the international monetary system from oldest to newest: early monetary systems operated under a Commodity Specie Standard (silver/bimetallism), followed by the Classical Gold Standard (1870s-1914), the Bretton Woods Fixed Parity (adjustable peg) System (1944-1971), and finally the modern Floating Exchange Rate regime (post-1973).
Practice for these exams
-
UGC NET Commerce