Quiz  /  Quick Quiz: Determining Currency Exchange Rates

  • 1. 
    What are fixed exchange rates?

  • an exchange rate that uses a standard; each unit of currency corresponds to a fixed quantity of that standard
  • an exchange rate where each currency isn’t necessarily backed by a resource

  • 2. 
    What is the name of an exchange rate where each currency isn’t necessarily backed by a resource?

  • fixed
  • standard
  • floating
  • managed

  • 3. 
    How are current international exchange rates determined?

  • a floating exchange rate
  • a fixed exchange rate
  • a standard exchange rate
  • a managed floating exchange rate

  • 4. 
    What is a managed floating exchange rate?

  • currency’s value is affected by the economic actions of its government or central bank
  • currency’s value always stays the same
  • currency’s value is affected by the value of a precious metal like gold or silver
  • currency’s value is impossible to predict

  • 5. 
    Which controlled international exchange rates until the 1910s?

  • the gold standard
  • a floating exchange rate
  • a fixed exchange rate
  • the silver standard
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