International Money and Business Questions and Answers 2023

Gold Standard - -A monetary system in which paper money and coins are equal to the value of a certain amount of gold -dirty float - -A system under which a country's currency is nominally allowed to float freely against other currencies, but in which the government will intervene, buying and selling currency, if it believes that the currency has deviated too far from its fair value. -Fixed Float - - -Clean Float - -Currency monetary system with minimal government intervention; largely market determined -International Monetary Fund (IMF) - -an international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation -exchange rate - -The measure of how much one currency is worth in relation to another. -GATT (General Agreement on Tariffs and Trade) - -international agreement first signed in 1947 aimed at lowering trade barriers -WTO (World Trade Organization) - -the only international body dealing with the rules of trade between nations