a.distinguish between exchange rate and foreign exchange What does each term mean?

b.Exchange rates fluctuate constantly. explain the effect of this fluctuation on firms engaged in international business.

c.explain Bretton Woods agreement

d. explain what is its legacy today

e.explain the difference between the international monetary system

f.explain the global financial system?

g. dentify the key players in the international monetary and financial systems, describing their specific roles.

h.Inachart,differentiatetheaimsoftheWorldBank(WB)andthe International Monetary Fund(IMF)

i. Nearly20EuropeanUnion(EU)countrieshaveadoptedtheeuroastheir nationalcurrencyandaretermedtheeurozone.Sharingasinglecurrency eliminatesexchangefluctuationsandsimplifiestrade.Eurozonefirmshad tomakevariousoperationalchanges,especiallyregardingfinanceand accounting,butgenerallypreferdealingintheeuro.TheECBviewsthe eurozone as one region and must apply the same monetary policy to all EU members, but this is problematic at times. (The United Kingdom opted not tojointhemonetaryunion,keepingtheBritishpoundasitscurrency.)In separate answers, discuss. Whattypesofcompetitiveadvantagesanddisadvantagesare associated with the implementation of the euro from the perspective of the firm? b.What types of changes did firms make once the euro became the new currency?c.Whatbenefitsdoesusingasinglecurrency,theeuro,provideto European countries?d.Was adopting the euro worth it? Why or why not?