1. The Hong Kong dollar has long been pegged to the U.S. dollar at HKD 7.81/USD. When the Chinese yuan was revalued in July 2005 against the U.S. dollar from CNY 8.29/USD to Yuan 8.07/USD, how did the value of the Hong Kong dollar change against the Chinese yuan?

   		a. The Hong Kong dollar fell in value from HKD 0.9421/CNY to HKD 0.9735/CNY.
   		b. The Hong Kong dollar fell in value from HKD 0.9421/CNY to HKD 0.9678/CNY
   		c. The Hong Kong dollar rose in value from HKD 1.0615/CNY to HKD 1.0333/CNY
   		d. The Hong Kong dollar rose in value from HKD 1.0615/CNY to HKD 1.0273/CNY

2. Suncor exports oil from Calgary to New York. This transaction will be recorded in the Canadian balance of payments as:

   		a. a credit in the current account
   		b. a debit in the current account
   		c. a credit in the capital account
   		d. a debit in the capital account

3. Bretton Woods

   		I. Was the conference that created an international monetary system, the IMF and the World Bank (aka IBRD)
   		II. Was a system where only the USD was convertible to gold and all other currencies were pegged to the USD
   		III. Followed the gold standard, the modified gold standard and has been in effect since 1944
   		a. I only
   		b. I and II only
   		c. I, II, and III
   		d. III only