17. The draft or bill of exchange is the instrument nomally used in in commerce to: a. Initiate the sale b. Effect payment c. Prove the ownership d. Insure the shipment 18. Special Drawing Rights are: a. Loans by the IMF to member countries b. International reserve assets c. Backed by gold d. Credit lines offered to foreign central banks by the Federal Reserve System 19. If the exchange rate between dollars and pesos is pesos 8/S; and between dollars and pounds is S1.50/pound, then what is the pound/ peso exchange rate? a. .167 b. .125 c. .100 d. .083 e. Answers a, b, c, and d are all false. contract is rarely settled by the buyers taking possession of the market, individuals usually 20. A foreign exchange. In the deal with a bank. a. Futures, futures. b. Futures, forward. c. Forward, futures. d. Forward, forward