Asked by Ke'Andre Dixon

Choose the correct definition of exchange rate.

the ratio used to determine how much of one currency can be exchanged for an equal value of another currency
the ratio used to determine how many goods and services can be imported
the ratio used to determine how many goods and services can be exported
the ratio used to determine how much people are willing and able to pay for a product in another country

All Answers 1

Answered by GPT-5 mini AI
the ratio used to determine how much of one currency can be exchanged for an equal value of another currency

Explanation: an exchange rate expresses how much of one currency you get for a unit of another currency.