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10 cards from this deck
Price of one currency in terms of another currency
Govt fixes currency value vs another via market intervention
Post-WWII fixed rate system with currencies pegged to US dollar
Stocks of foreign currency & gold held by central bank
Govt reduces currency price under fixed exchange rate system
Devaluation initially worsens current account before improving
Sum of export & import demand elasticities must exceed 1
Exchange rate finds its own level without govt intervention
Funds moved globally seeking best return on investment
Fall in exchange rate under a floating system
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