Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Why do currencies float? What causes currencies to appreciate? And what causes currencies to
Expert Solution
Introduction:
Currency is defined as anything that is widely accepted to have value as a medium of exchange for goods and services. The trading system within an economy is based on its currency, which is usually country-specific and issued by the government of that country. . Currency is used to exchange commodities and services. Currency is money in the form of paper or coins issued by a government and accepted at face value.
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