The term 'Soft Currency' refers to a currency that:
A. Is only the US dollar
B. Is backed only by gold
C. Is widely accepted internationally and remains relatively stable
D. Is not widely accepted in international transactions and may be subject to instability or limited convertibility
Answer: Option D
Solution (By JKSSB Mock Tests)
A soft currency is one that is less widely used in international trade and finance and may experience greater volatility or convertibility restrictions compared with hard currencies.
Explanation:
Global value chains describe the international fragmentation of production in which different stages of the production process are located in different countries and intermediate inputs are traded intensively.
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