Which of the following is a characteristic that Wade expects of the new regime to emerge from the current crisis?
a. the removal of the role of the central bank in guaranteeing monetary stability
b. an expanded mandate of central banks and ensuring they give more weight to asset prices
c. a reduced mandate of central banks and preventing them from focusing too much on asset prices
d. removal of third parties from the role of determining the risk characteristics of new financial products
e. a prevention of financial markets from independently allocating investment capital and consumer credit between individuals
Question 2
What effect have foreign currency markets had on exchange rates since 2000, as explained by Wade?
a. External deficits and surpluses have shrunk, increasing the stability of much of the global economy.
b. They have caused many economies running surpluses to experience strong currency appreciation.
c. They have had little impact on foreign exchange rates, which has frozen income inequality between states.
d. They have driven exchange rates in the right direction, causing many economies running large external deficits to experience currency depreciation.
e. They have driven exchange rates in the wrong direction, causing many economies running large external deficits to experience currency appreciation.
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