The foreign exchange market is where currencies are traded for one another.
Answer the following statement true (T) or false (F)
True
The foreign exchange market is a global market where individuals, businesses, and governments can exchange one currency for another.
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Which of the following is a valid shortcoming of the use of foreign aid to eradicate poverty?
A) It may not lead to a sizeable increase in physical capital in poorer countries. B) It is difficult to transfer aid to poor countries. C) It can lead to polarization of the world economy. D) It mostly leads to the transfer of resources among rich countries.
The possibility that a borrower might engage in riskier behavior after a loan is made is called
A) adverse selection. B) liability aversion. C) moral hazard. D) the risk of default.
An important difference between a perfectly competitive firm and a monopolist is that
a. the perfectly competitive firm tends to be larger b. only the monopolist attempts to maximize profit c. only the perfectly competitive firm maximizes profit d. the perfectly competitive firm faces a horizontal demand curve and the monopolist faces a downward-sloping demand curve e. only the monopolist maximizes profit at the quantity where marginal cost equals marginal revenue
A positive (non-zero) price for a good means there is a surplus of that good
a. True b. False Indicate whether the statement is true or false