The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2
-If a dollar invested in the United States yields the same return as a dollar's worth of yen invested in Japan, then it implies that:
Definitions:
Appointed
Selected or designated for a position or duty by an authority, rather than by election or competition.
President
The elected head of a republican state or organization, responsible for executing the laws and leading the executive branch.
Federal Reserve System
The central banking system of the United States, responsible for setting monetary policy and regulating banks.
Established
Refers to an entity or concept that has been in existence for a significant period and is widely recognized or accepted.
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