variable whereas the net international 51. The current account is a investment position is a variable. A) flow; flow B) stock, stock C) flow, stock D) stock; flow 52. Hedging has its pros and cons. Therefore, there are proponents and of hedging for the multinational opponents corporation A) True B) False 53. The derivative instrument used most often by US multinationals to hedge transaction exposure is A) foreign currency swaps. B) foreign currency futures. C) exchange-traded currency options. D) forward contracts. E) over-the-counter currency options. 54. An exchange arrangement in which the currency of another country circulates as the sole legal tender is classified as a A) free float. B) soft peg. hard peg. Presidual