Here are the choices for the dashes above:

1 a. spot

b. forward

2 a. floating

b. pegged

3 a. depreciates

b. appreciates

4 a. devaluation or evaluation

b. depreciation or appreciation

5 PART A a. managed

b. freely

5 PART B a. hard

b. soft

3. The international monetary system Aa Aa Until August 1971, industrialized countries around the world maintained a fixed exchange rate of their currencies with the U.S. dollar, which was linked to gold. The gold standardized system was called the Bretton Woods Fixed Exchange Rate System. This system collapsed in 1971, and since then, the dollar has not been linked to gold ase yorunderstandnea sitm, conplete e tolaning s exchange rate is the quoted price for a unit of foreign currency to be delivered at a specified date in the future. exchange rate, which means that supply and demand in the market The government does not set a determine the currency's value When American customers import less from Europe than they export to Europe, the euro to the dollar. relative of a currency refers to a decrease or increase, respectively, in the foreign The exchange value of a floating currency. Undera Currencies under such a regime are called floating regime, supply and demand for the currency determine the exchange rate. currencies