1. Prior to intervention by the International Monetary Fund (IMF) in 2016, Egypt followed a __________ exchange rate policy.

Multiple Choice

• floating

• pegged

• free

• fixed-cost

• managed

2. As part of its 2016 agreement to borrow $12 billion from the International Monetary Fund (IMF), Egypt agreed to

Multiple Choice

• peg its currency to the euro.

• increase the value of its currency.

• allow its currency to float against other currencies.

• increase energy subsidies to raise profits.

• remove value-added taxes that made oil prices too high.

3. The __________ was created to maintain order in the international monetary system.

Multiple Choice

• World Bank

• United Nations (UN)

• International Bank for Reconstruction and Development (IBRD)

• International Monetary Fund (IMF)

• Currency Board

4. The crisis in Egypt that required the country to take a $12 billion loan from the International Monetary Fund (IMF) in 2016 can best be described as a(n)

Multiple Choice

• banking crisis.

• currency crisis.

• foreign debt crisis.

• exchange rate crisis.

• managed crisis.