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Ⅰ． For the following questions ， consider each of the choices separately and select all that apply.
1．IMF has put the exchange rate regimes into（ ）.
A．hard pegs
B．soft pegs
C．floating
D．residual
2．Hard pegs exchange rate regime arrangement includes（ ）.
A．conventional pegged arrangement
B．exchange arrangement with no separate legal tender
C．stabilized arrangement
D．currency board arrangement
3．Exchange rate regime has gone through stages as（ ）.
A．money is based on a metallic standard
B．money is fiat
C．pegged regimes
D．optimum currency area
4．The international monetary system consists of（ ）.
A．exchange rate regimes
B．international payments and transfers relating to current international transactions
C．international capital movements
D．international reserves
5．The Maastricht Treaty specifies（ ），the macroeconomic convergence criteria that EU member countries must satisfy.
A．government tax revenue
B．government debt
C．government deficit
D．interest rate
Ⅱ． Short answer questions.
1 .Why in reality there are no two countries have exactly the same exchange rate regime ？
2 .How do international monetary systems fulfill the transaction function ？
3 .Has the modern international monetary system successfully facilitated the exchange of goods ， services and capital among countries ？