The exchange rate is the:
a) cost of borrowing money.
b) interest rate that banks charge their best customers.
c) rate at which one currency can be exchanged for another.
d) amount of gold backing a U.S. dollar.
Ans: c) rate at which one currency can be exchanged for another.
You might also like to view...
The chairman of the Federal Reserve Board of Governors
A) is appointed by the President and confirmed by the Treasury. B) serves a fourteen year term as chairman. C) sits on the Federal Open Market Committee. D) is always the president of the Federal Reserve Bank of New York.
If the quantity demanded exceeds the quantity supplied, then there is
A) a shortage and the price is below the equilibrium price. B) a shortage and the price is above the equilibrium price. C) a surplus and the price is below the equilibrium price. D) a surplus and the price is above the equilibrium price.