In quoting exchange rates: Answer a. One should always quote these as units of foreign currency over a unit of domestic currency b. One should always quote the rate as the units of domestic currency over a unit of foreign currency c. Usually one should quote the rate in such a way that the value is greater than one d. Each country's central bank determines how the rate is to be quoted
In quoting exchange rates: Answer a. One should always quote these as units of foreign currency over a unit of domestic currency b. One should always quote the rate as the units of domestic currency over a unit of foreign currency c. Usually one should quote the rate in such a way that the value is greater than one d. Each country's central bank determines how the rate is to be quoted
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Open-economy Macroeconomics: Basic Concepts
Section: Chapter Questions
Problem 4CQQ
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In quoting exchange rates:
Answer
a. One should always quote these as units of foreign currency over a unit of domestic currency
b. One should always quote the rate as the units of domestic currency over a unit of foreign currency
c. Usually one should quote the rate in such a way that the value is greater than one
d. Each country's central bank determines how the rate is to be quoted
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