You Check the Yahoo

question 13

Multiple Choice

You check the Yahoo.com currency web page and find that the Japanese yen is trading at a rate of
113 yen per dollar. This rate of exchange is typically referred to as the ________.

• A) forward rate
• B) par rate
• C) spot rate
• D) 113 rate

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Definitions:

Strict Performance

The requirement that a contract be executed precisely as agreed, without any deviations or allowances.

Contract Price

The total amount agreed upon by the parties involved in a contract for the sale of goods, services, or property.

Quasi-Contract

A legal concept that implies a contract exists to prevent unjust enrichment or unfair benefit, even though no formal contract exists between the parties.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover losses directly related to an injury or damage.