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Author Question: What was the main cause behind the Black Wednesday in the 1990s? What will be an ideal ... (Read 32 times)

rl

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on: Jun 30, 2018
What was the main cause behind the Black Wednesday in the 1990s?
 
  What will be an ideal response?

Question 2

The opportunity cost of something is
 
  A) what you sacrifice to get the good. B) the price you pay for the good.
  C) what you are willing to pay for the good. D) a measure of the scarcity of the good.


SeanoH09

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The Black Wednesday refers to an event during which the pound crashed in value all of a sudden. It occurred because the pound was overvalued against the German mark and this prolonged overvaluation of the pound caused the government to sharply devalue the currency when the government ran out of German mark reserves.

Answer to Question 2

A


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