If Canada and the United States agreed to exchange their currencies at a 1:1 rate (CAD $1.00 = USD $1.00)), that would be an example of which of the following?

Name: If Canada and the United States agreed to exchange their currencies at a 1:1 rate (CAD $1.00 = USD $1.00)), that would be an example of which of the following?
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Question

Quizplus · Accepted Answer

A fixed exchange rate is when two countries agree to keep their currencies at a set rate relative to each other, as described in the scenario.

If Canada and the United States Agreed to Exchange Their