What is the best explanation for the billions in American currency being held abroad?
Select one:
a. U.S. multinational corporations are holding the money but not reporting it.
b. Drug dealers and others in the underground economy are holding the money.
c. Residents in foreign nations are using U.S. currency as stable currency to make transactions
d. There has been a proliferation of automatic teller machines throughout the world that allow people access to U.S. currency.
Answer: c. Residents in foreign nations are using U.S. currency as stable currency to make transactions.
The residents of a country mainly hold those foreign currencies that have greater stability. U.S. currency, i.e., U.S. dollar is global and stable currency. So, the billions in American currency being held abroad because residents in foreign nations are using U.S. currency as stable currency to make transactions.
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What is the best explanation for the billions in American currency being held abroad? Select one:...
What is the best explanation for the billions in American currency being held abroad? Select one: a. U.S. multinational corporations are holding the money but not reporting it. b. Residents in foreign nations are using U.S. currency as stable currency to make transactions c. There has been a proliferation of automatic teller machines throughout the world that allow people access to U.S. currency. d. Drug dealers and others in the underground economy are holding the money.
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