An Exchange Rate of ¥117.87/$ Indicates ________

question 32

Multiple Choice

An exchange rate of ¥117.87/$ indicates ________.

• A) that 117.87 yen buys one dollar
• B) that 117.87 dollars buys one yen
• C) a direct quote on the dollar
• D) an indirect quote on the yen

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Definitions:

Joint Statement

An official declaration or announcement issued together by two or more parties, typically by governments or organizations.

Panic of 1819

The first major peacetime financial crisis in the United States, followed by a general collapse of the American economy lasting until 1821.

Causes

The reasons or motivations that lead to specific events or outcomes, often studied in historical, social, and scientific contexts.

Consequences

Outcomes or results that follow from actions, events, or decisions.