If a Japanese Importer Could Buy $1000 U

question 67

Multiple Choice

If a Japanese importer could buy $1000 U.S.for 122,000 yen,the rate of exchange for one dollar would be:

• A) 112 yen.
• B) 122 yen.
• C) 1220 yen.
• D) 12,200 yen.
• Since $1000 = 122,000 yen,$1 = 122,000/1000 = 122 yen.

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Definitions:

System-1 Decision

Fast, automatic, intuitive responses or decisions, as categorized by dual-process theory in cognitive psychology.

Deliberating

The process of thoughtfully considering various aspects or options before making a decision.

System-1 Thinking

A fast, automatic, intuitive, and emotional way of thinking and decision-making, contrasted with more deliberate and logical System-2 thinking.

Situational Cues

Environmental or contextual signals that influence an individual's behavior, perception, or decision-making in specific situations.