Suppose,under a System of Flexible Exchange Rates,a Small TV Costs

question 8

Multiple Choice

Suppose,under a system of flexible exchange rates,a small TV costs $150 in the United States and 15,000 yen in Japan.Other things being equal,the exchange rate is

• A) 1 yen equals $0.15.
• B) $1 equals 15 yen.
• C) 1 yen equals $0.01.
• D) $1 equals 150 yen.
• E) $1 equals 1,500 yen.

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