Given an exchange rate of 120 yen = $1, what is the U.S. dollar price of 1 yen?
a. $0.025
b. $0.0083
c. $120
d. $0.0012
e. $1
b
You might also like to view...
In oligopoly outcomes, the dominant firm's profitability depends on how the fringe, consisting of small competing sellers, responds to its choices
Indicate whether the statement is true or false
The Gramm-Rudman-Hollings Act was an attempt to bring the federal budget into balance.
Answer the following statement true (T) or false (F)
Appreciation is the term used to describe
A. the conversion of one currency into another currency in the free market. B. a reduction in the official value of a currency. C. the upward movement of currencies in a free market. D. an increase in the official value of a currency.
Refer to the scenario above. If the number of participants in the auction increases to 20, Rebecca should place a bid of ________
A) $45,000 B) $42,750 C) $4,500 D) $40,500