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Which of following is NOT true regarding the feature of the fixed rate? (a) stability in international prices. (b) inherent anti-inflationary nature of fixed prices.
Which of following is NOT true regarding the feature of the fixed rate? (a) stability in international prices. (b) inherent anti-inflationary nature of fixed prices. (c) central banks maintain large quantities of hard currencies and gold to defend the fixed rate. (d) fixed rates can be maintained at rates that are always consistent with economic fundamentals (e) none of the above is true.
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