The Number of Units of One Currency That Must Be

question 22

Multiple Choice

The number of units of one currency that must be exchanged for a unit of the second currency is known as the ________ between the currencies.

• A) balance payment
• B) trading bloc
• C) tariff rate
• D) exchange rate
• E) trade balance

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Definitions:

Unattainable

Refers to goals, objectives, or levels of production that cannot be achieved with the current availability of resources or technology.

Utilities Possibilities Frontier

A graphical representation showing the maximum levels of utility that two individuals or more can achieve given a fixed set of resources.

Efficient

The state of optimizing the use of limited resources to achieve the desired outcome without waste.

Equitable

Pertains to fairness or justice in the way people are treated or how resources are distributed.