Question
The foreign exchange rate is the rate at which:
Question 7 options:
one country's currency trades for silver provided by another country.
the currency of one country trades for the goods of another country.
one country's goods trade for those of another country.
measuring exchange of trade by stating one currency in terms of another currency
Question 7 options:
one country's currency trades for silver provided by another country.
the currency of one country trades for the goods of another country.
one country's goods trade for those of another country.
measuring exchange of trade by stating one currency in terms of another currency
Answers
GPT-4o mini
The correct option is:
**measuring exchange of trade by stating one currency in terms of another currency.**
The foreign exchange rate represents how much of one currency can be exchanged for another currency.
**measuring exchange of trade by stating one currency in terms of another currency.**
The foreign exchange rate represents how much of one currency can be exchanged for another currency.