Recall Application 4, "The Argentine Financial Crisis," to answer the question below:
-The Argentine financial crisis of 2002 occurred because:
A) the Argentine peso was in a flexible exchange rate regime.
B) the country experienced increasingly larger trade surpluses.
C) the loss of confidence in the economy resulted in massive selling of U.S. dollars.
D) the U.S. dollar continued to appreciate against other currencies.
Correct Answer:
Verified
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