You Can Buy Euros at a Currency Exchange Store or at the Airport

question 154

Multiple Choice

You can buy euros at a currency exchange store or at the airport. If you want to buy €250, would it be better to pay a 1% transaction fee or a flat service charge of $10.00? Use C$1.00 = €0.7448 as the exchange rate.

• A) 1% transaction fee is more expensive by $6.64
• B) 1% transaction fee is less expensive by $6.64
• C) flat service charge is less expensive by $6.64
• D) flat service charge is more expensive by $6.64
• E) no difference in fee

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Definitions:

Ethical Dilemma

A situation where a person is faced with a choice that involves a conflict between two moral imperatives, neither of which is unambiguously acceptable or preferable.

Clear Decision

An unambiguous and definitive resolution or ruling on a matter, leaving no room for confusion or doubt.

Firm

A business organization, such as a company or partnership, engaged in commercial, industrial, or professional activities.

Positive Abstractions

Conceptual ideals or values that are perceived as beneficial or constructive to individuals or society.