If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 400 rand?

A) 10
B) 40
C) 400
D) 4,000

Answer: B

Economics

You might also like to view...

________ in the currency drain ratio and ________ in the desired reserve ratio ________ the money multiplier

A) An increase; a decrease; increase B) A decrease; a decrease; increase C) A decrease; an increase; decrease D) An increase; an increase; increase E) An increase; a decrease; decrease

Economics

During World War II, the increasing productivity of workers who built ships was due primarily to

A) human capital accumulation through schooling and training. B) human capital accumulation by repeatedly doing the same tasks. C) discoveries of new and better technologies. D) investments by shipyards in new capital equipment.

Economics