A negative value for the line item "Changes in official international reserves" in the balance of payments statement indicates that A. the Bank of Canada issued foreign exchange. B. the Bank of Canada used foreign exchange to buy Canadian dollars on the foreign exchange markets. C. the Bank of Canada increased its reserves of foreign exchange. D. the Bank of Canada sold off some of the gold that it uses to back the Canadian dollar.
A negative value for the line item "Changes in official international reserves" in the balance of payments statement indicates that A. the Bank of Canada issued foreign exchange. B. the Bank of Canada used foreign exchange to buy Canadian dollars on the foreign exchange markets. C. the Bank of Canada increased its reserves of foreign exchange. D. the Bank of Canada sold off some of the gold that it uses to back the Canadian dollar.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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