The following table shows the number of U.S. dollars required to buy one euro between September 3, 2012, and April 1, 2013. Use this table to answer the questions that follow.
-Between February 1,2013,and April 1,2013,the U.S.dollar ________ against the euro,and the euro ________ against the U.S.dollar.
Definitions:
Price Quotations
Refers to the latest price at which an asset or service is traded between buyers and sellers or is offered to be bought or sold.
Observable Inputs
Inputs that are developed using market data, such as publicly available information about actual events or transactions, and reflect the assumptions that market participants would use when pricing the asset or liability.
Level 2 Input
In fair value measurement, inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, such as using market-correlated data.
Level 2 Input
Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, directly or indirectly, such as quoted prices for similar assets or liabilities.
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