The price of a foreign currency expressed in terms of the home currency is called the:
a. exchange rate.
b. rate of depreciation.
c. dollar-yen ratio.
d. opportunity cost.
Ans: a. exchange rate.
You might also like to view...
Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. Billie faces ________ opportunity costs in the production of pillows and blankets
A) negative B) constant C) decreasing D) increasing
Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Dan should specialize in both sandwiches and smoothies. B. Dan should specialize in smoothies, and Tracy should specialize in sandwiches. C. Dan should specialize in sandwiches, and Tracy should specialize in smoothies. D. Tracy should specialize in sandwiches and smoothies.