In the question below, there are four statements A, B, C and D that have to be arranged in a logical order to make a paragraph between statements 1 and 6. 1. Trade and exchange are probably older than the invention of money, but in the absence of this wonderful contrivance the volume of trade and gains from specialisation would have been rather minuscule. A. What is true of trade and capital flows within a country, is true perhaps more strongly, of international trade and capital flows. B. By this we mean a world monetary and financial organisation that facilitates transfer of funds between parties, conversion of national currencies into one another, acquisition and liquidation of financial assets, and international credit creation. C. From the point of view of a firm with worldwide transactions in goods, services and finance, an efficient multilateral financial system is a prerequisite for efficient operation. D. Both require an efficient world monetary order to flourish and yield their full benefits. 6. The international monetary system is an important constituent of the global financial system. a. ABCD b. CBAD c. ADBC d. ADCB e. CDAB
Posted on: Sun, 02 Feb 2014 10:30:00 +0000