The foreign exchange rate is defined as the
A) equal to the amount of the current account deficit.
B) equal to the amount of the capital account deficit.
C) volume of the world currencies traded.
D) rate or the speed with which the currencies of the worlds are traded.
E) price at which one currency exchanges for another.
E
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Workers in the U.S. economy get most of their skill training in school
Indicate whether the statement is true or false
Current tax rates are insufficient to finance the benefits promised by both the Social Security and Medicare programs. Are these unfunded promises surprising according to economic theory?
What will be an ideal response?
Refer to Scenario 1.1 below to answer the question(s) that follow.SCENARIO 1.1: An economist wants to understand the relationship between minimum wages and the level of teenage unemployment. The economist collects data on the values of the minimum wage and the levels of teenage unemployment over time. The economist concludes that a 1% increase in minimum wage causes a 0.2% increase in teenage unemployment. From this information he concludes that the minimum wage is harmful to teenagers and should be reduced or eliminated to increase employment among teenagers.Refer to Scenario 1.1. The statement that an increase in the minimum wage causes an increase in teenage unemployment is an example of
A. normative economics. B. deductive reasoning. C. a fallacy. D. an economic theory.
If 1 U.S. dollar exchanges for 46.94 Indian rupees, how much would it cost in rupees to purchase a copy of Time Magazine priced at $2.50?
What will be an ideal response?