1. According to Charles Schwab, the bid-ask spread for the Euro-US dollar exchange rate today...
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1. According to Charles Schwab, the bid-ask spread for the Euro-US dollar exchange rate today is $1.085/-$1.093/ (or 0.915/$-0.922/$, equivalently). Which of the following statements is CORRECT?
- Customers buy 0.915 at $1 from Charles Schwab
- Customers sell $1.093 at 1 to Charles Schwab
2. Which of the following statements regarding European Monetary Union is INCORRECT?
- EMU promotes cross-border investments and mergers
- EMU enhances exchange rate policy independence
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