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Global Financial System Quiz

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Questions and Answers

What are the two most significant parts of the global financial system?

The international monetary system (IMS) and the global credit system.

How has the international monetary system (IMS) evolved since its establishment in the mid-1940s?

It has evolved from a system of fixed exchange rates to using floating exchange rates. Recently, some states have abandoned their national currencies in favor of regional currencies like the euro.

What is the focus of the global credit system?

The global credit system determines who gets to borrow money and on what terms.

What significant changes have the global credit system and the international monetary system (IMS) undergone since their establishment?

<p>Both systems have undergone dramatic changes since the mid-1940s.</p> Signup and view all the answers

Give an example of a recent development in the international monetary system (IMS).

<p>A number of states have abandoned their national currencies in favor of regional currencies, for example, the euro.</p> Signup and view all the answers