JAMB Economics 2011 Objective — Question 45
Question 45 of 49 from the Joint Admissions and Matriculation Board (JAMB) Economics 2011 Objective paper, with the correct answer and a full explanation.
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A condition in which official and autonomous exchange rates coexist is
- A. A. a managed floating rate systemCorrect
- B. B. market determined exchange rate system
- C. C. multiple exchange rate system
- D. D. dual exchange rate system
Explanation
Managed floating rate system is one in which the flexible (floating) exchange rate and fixed (official) exchange rate are used together, with the forces of demand/supply and government both determining the exchange rate.
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