Convert Each of the Following Direct Quotes to Dollar Indirect

question 122

Multiple Choice

Convert each of the following direct quotes to dollar indirect quotes:
- 1 Korean Won = $0.001556
- 1 Malaysian Ringgit = $0.3419
- 1 Thai Baht = $0.03999
$1 equals:

• A) 642.67 Won; 2.9248 Ringget; 28.01 Baht
• B) 662.67 Won; 2.9248 Ringget; 28.01 Baht
• C) 642.67 Won; 2.7408 Ringget; 25.01 Baht
• D) 642.67 Won; 2.9248 Ringget; 25.01 Baht

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to buy at different price levels, over a specific time period.

Economic Resource

An asset used to produce goods and services that can provide economic benefit.

Money Balances

Refers to the amount of money held by an individual or entity in the form of cash or bank deposits.

Capital Resource

A capital resource is an asset utilized by a company to produce goods and services, such as buildings, machinery, and equipment.