Which of the Following Is False Concerning Exchange Rates Quoted

question 105

Multiple Choice

Which of the following is false concerning exchange rates quoted in Canada?

• A) They are usually quoted in terms of the foreign currency.
• B) An exchange rate is the price of one country's currency expressed in dollars.
• C) A direct exchange rate quotation in The National Post tells you how many Canadian dollars it takes to buy one unit of the foreign currency quoted.
• D) When an exchange rate is quoted as the units of foreign currency needed to buy one Canadian dollar it is called an indirect exchange rate quote.
• E) A European exchange rate quoted in The National Post will tell you how many units of a foreign currency you can purchase with one Canadian dollar.

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