An exchange rate can be described as:
a. the price of a foreign currency as determined by the World Bank.
b. the price of one country's currency in terms of another country's currency.
c. the dollar value of imports and exports undertaken in the world economy during a year.
d. the price of foreign currency as established by the relative amount of tourism.
e. the dollar value of U.S. international trade.
b
You might also like to view...
Prior to 1840, most businesses were
A) family-owned. B) corporate in structure. C) vertically integrated. D) collections of partnerships.
The Laffer curve reflects the view that when
A. tax rates are too low, raising them creates a greater incentive for suppliers to increase production. B. tax rates are too high, lowering them not only creates greater incentive for suppliers to increase production, but also ends up generating higher tax revenues. C. tax revenue is too low, the only way to increase it is through higher tax rates. D. tax rates are too high, lowering them also reduces tax revenue.