The Term Foreign Exchange Is Used to Denote the Value

question 44

True/False

The term foreign exchange is used to denote the value of domestic currency held to finance international trade.

---

Definitions:

Short Run

A time period in economic analysis during which at least one input is fixed, affecting the operation of firms and markets.

Farms

Land and the buildings on it used for the cultivation of crops and rearing of animals to produce food, wool, and other products.

Price

The cost needed to buy a product or service, usually set by the interplay of supply and demand.

Quantity

The amount or number of a material or immaterial goods that is measured or counted.