The European Exchange Rate Mechanism was also known as the snake ...

[drink]

The European Exchange Rate Mechanism was also known as the snake because it
 a. was despised by member countries with strong currencies.
  b. changed its shape based on the fluctuation of the different currencies.
  c. had a venomous bite on weaker currencies of the EU.
  d. None of the above are true.

Question 2

Serendipity, or chance ideas, as a source of marketing research problems, might arise from:
 a. customer complaint letters.
  b. salesperson's call reports.
  c. comments in trade publications.
  d. customer calls to assistance centers.
  e. all of the above.

[laurnthompson]

Answer to Question 1

B
As a precursor to the European monetary union, member countries agreed to create a common float known as the European Exchange Rate Mechanism. The ERM was also known as the snake because it changed its shape based on the fluctuation of the different currencies. According the ERM, a currency could only fluctuate up to 2.5 of its value in either direction; when this value was consistently surpassed, the mechanism would adjust the currency upward or downward, respectively, creating a snake-like structure. This may be found in the Common Markets section (4-2d).

Answer to Question 2

E