Which of the Following Describes the Way the Futures Price

question 7

Multiple Choice

Which of the following describes the way the futures price of a foreign currency is quoted?

• A) The number of U.S. dollars per unit of the foreign currency
• B) The number of the foreign currency per U.S. dollar
• C) Some futures prices are always quoted as the number of U.S. dollars per unit of the foreign currency and some are always quoted the other way round
• D) There are no quotation conventions for futures prices

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Definitions:

Quasi-Contractual Agreement

An arrangement that is not an official contract but is treated as such by a court to prevent a party from being unjustly enriched at the expense of another.

Unconscious

pertains to a state where a person is not awake and aware of their environment, often resulting from illness, injury, or medical intervention.

Implied in Law

describes obligations or rights that are not explicitly stated but are inferred by legal principles or statutes to ensure fairness and justice.

Unjust Enrichment

A legal principle that occurs when one person is unfairly enriched at the expense of another, and the law demands restitution to the aggrieved party.