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We begin this video with the introduction of how was the foreign exchange rate determined and what are the two different types of exchange rates - fixed and flexible. We begin with the first fixed exhange - Gold Standard and then proceed to the USA Dollar standard
1. Explain the exchange rate system under Gold Standard
2. Explain the fixed exhcange rate system under Gold Standard and IMF's Dollar Stabdard
3. Explain the Gold point and Price - Specie Flow Mechanism