If a US Importer Can Purchase 10,000 British Pounds for $20,000, the $20,000

question 171

Multiple Choice

If a U.S. importer can purchase 10,000 British pounds for $20,000, the rate of exchange is

• A) $1 = 2 British pounds in the United States.
• B) $2 = 1 British pound in the United States.
• C) $1 = 2 British pounds in Great Britain.
• D) $0.5 = 1 British pound in Great Britain.

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