Exchange rates
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8 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    What is an exchange rate?

    answer choices

    The rate at which goods are exchanged between two countries

    The price of one nation's currency in terms of another currency

    The price of goods in terms of a foreign currency

    When a nation's balance of trade is in either a surplus or deficit

  • Question 2
    20 seconds
    Q.

    According to the table, what is the USD equivalent of 1 Australian dollar?

    answer choices

    1 USD

    1.3192 USD

    1.5896 USD

    1.0283 USD

  • Question 3
    30 seconds
    Q.

    According to the table, what is the Euro equivalent of 1 USD?

    answer choices

    1 Euro

    0.76 Euros

    0.63 Euros

    0.97 Euros

  • Question 4
    10 seconds
    Q.

    What is the increase in the value of a currency?

    answer choices

    Exchange rate

    Recession

    Depreciation

    Appreciation

  • Question 5
    30 seconds
    Q.

    What does it mean when an economist says a currency is stronger?

    answer choices

    It can be exchanged for more of a lesser foreign currency

    It can be converted to prices in any currency

    There a few things it could buy

    It will buy fewer foreign goods

  • Question 6
    10 seconds
    Q.

    What is a decrease in the value of a currency?

    answer choices

    Appreciation

    Depreciation

    Inflation

    Absolute advantage

  • Question 7
    30 seconds
    Q.

    If the AUD were to appreciate in the relation to the USD, what effect would this have?

    answer choices

    Australian imports become cheaper.

    Australian exports become more expensive to American buyers.

    Australian imports become more expensive.

    Australian exports become less expensive to American buyers.

  • Question 8
    30 seconds
    Q.

    If the AUD were to depreciate in the relation to the USD, it increased level of the external debt which is easured in overseas currencies.

    answer choices

    False

    True

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