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

---

Definitions:

Reducing Profits

Actions or factors that decrease the earnings or profitability of a business.

Monopolistic Competition

A market structure in which many firms sell products that are similar but not identical.

Differentiated Products

Goods or services that are distinct in quality, features, or branding, which are not perfect substitutes and allow for product variety in the market.

Control Over Price

Regulatory or market-driven mechanisms that influence the setting and adjustment of prices for goods and services.