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What cannot be said about the ideal currency?

		a. It should allow for exchange rate stability, free flow of capital and monetary independence
		b. It is dubbed the impossible trinity
		c. It is the nickname given to the dollar during the Bretton Woods years
		d. It should allow for exchange rate stability, full financial integration and independent monetary policy

A hard peg is

		a. A floating exchange rate regime in the form of dollarization or currency board arrangement
		b. A fixed exchange rate regime in the form of dollarization or currency board arrangement
		c. A managed float exchange rate
		d. A free-floating exchange rate that is one extreme used by many emerging markets

1. The Hong Kong dollar has long been pegged to the U.S. dollar at HKD 7.81/USD. When the Chinese yuan was revalued in July 2005 against the U.S. dollar from CNY 8.29/USD to Yuan 8.07/USD, how did the value of the Hong Kong dollar change against the Chinese yuan?

   		a. The Hong Kong dollar fell in value from HKD 0.9421/CNY to HKD 0.9735/CNY.
   		b. The Hong Kong dollar fell in value from HKD 0.9421/CNY to HKD 0.9678/CNY
   		c. The Hong Kong dollar rose in value from HKD 1.0615/CNY to HKD 1.0333/CNY
   		d. The Hong Kong dollar rose in value from HKD 1.0615/CNY to HKD 1.0273/CNY

Bretton Woods

		I. Was the conference that created an international monetary system, the IMF and the World Bank (aka IBRD)
		II. Was a system where only the USD was convertible to gold and all other currencies were pegged to the USD
		III. Followed the gold standard, the modified gold standard and has been in effect since 1944
		a. I only
		b. I and II only
		c. I, II, and III
		d. III only

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