In the short run, exchange rates are determined by the rate at which a country's currency exchanges for silver and gold.

Name: In the short run, exchange rates are determined by the rate at which a country's currency exchanges for silver and gold.
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Question

Quizplus · Accepted Answer

In the short run, exchange rates are determined by supply and demand in the foreign exchange market, not by the exchange rate between a country's currency and silver or gold.

In the Short Run, Exchange Rates Are Determined by the Rate