How does the monetary approach explain the process by which a balance of payments disequilibrium is corrected
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Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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The flexible exchange rate system corrects the balance of payments disequilibria ...View the full answer
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