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Under the ERM, Each Country Fixed ____________ Against Each Other

Question 2

Multiple Choice

Under the ERM, each country fixed ____________ against each other ERM participant. Collectively the
Group _________ against the rest of the world.

A) a nominal exchange rate, floated
B) a real exchange rate, pegged
C) a purchasing power parity, pegged
D) a real exchange rate, floated

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