International Business The Challenge of Global Competition 13th Edition Donald Ball

Looking for a comprehensive study guide to help you ace your International Business course? The International Business The Challenge of Global Competition 13th Edition by Donald Ball is your ultimate companion. This textbook delves into the complexities of global competition, international monetary systems, and financial forces shaping the business landscape.

ISBN-13:978-0077606121, ISBN-10:0077606124

Chapter 08: The International Monetary System and Financial Forces

True / False Questions:

1. Sir Isaac Newton established the value of gold in 1717 and de facto put England on the gold standard.
   Answer: True
2. The complexity of the gold standard was a part of its attraction.
   Answer: False
3. The Bretton Woods meeting in 1944 established a fixed-rate exchange system amongst Allied governments that was imposed on the Axis governments.
   Answer: True
4. The Bretton Woods system led to minimal growth in worldwide commerce nonetheless helped to reduce inflation levels.
   Answer: False
5. As a result of Bretton Woods and the dollar’s use as a proxy for gold, the US ran up a balance-of-payments deficit of around $56 billion, leading to the US abandoning the gold exchange standard in 1971.
   Answer: True
6. De Gaulle urged Nixon to close the gold window at the Treasury, and this action moved the IMF towards a floating exchange rate system.
   Answer: True
7. One possible current currency arrangement is a fixed peg, where the exchange rate of a currency is allowed to move (within a narrow band) with another currency. An example is pegging the Canadian dollar to the US dollar.
   Answer: True
8. Global foreign currency exchange transactions amount to approximately $4 trillion daily.
   Answer: True
9. The Bank for International Settlements functions as the banker for central banks.
   Answer: True
10. The control mechanisms for a gold-based exchange system and a floating-rate system are the same.
    Answer: False

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Conclusion:

Enhance your knowledge and grasp a deeper understanding of international business with the comprehensive resources provided in the International Business The Challenge of Global Competition 13th Edition. Dive into the intricate details of global competition, monetary systems, and financial forces to excel in your studies and future career endeavors.