Under the terms of Bretton Woods,countries tried to maintain the value of their currencies to a basket of currencies made up of the U.S. dollar, British pound, and Japanese yen.
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Typically, a firm in its domestic stage of globalization has all financial transactions in its domestic currency.
Comparative advantage shifts over time as less developed countries become more developed and realize their latent opportunities (潜在机会).
When a bank is lack of reserves before the end of a business day in U.S., it could probably borrow from________
A. Federal Funds Markets
B. Repurchase Market
C. Federal discount window
D. All of the above
Foreign exchange ________ earn a profit by a bid-ask spread on currencies they purchase and sell. Foreign exchange ________, on the other hand, earn a profit by bringing together buyers and sellers of foreign currencies and earning a commission on each sale and purchase.
A. central banks; treasuries
B. dealers; brokers
C. brokers; dealers
D. speculators; arbitragers