Question

What is the Exchange Rate (ER)?

a.

The value of a country's currency

b.

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

c.

The quantity of currency in circulation

d.

The interest rate in the foreign exchange market

Answer: (b).The price of one country's currency in terms of another currency Explanation:The Exchange Rate (ER) is the price of one country's currency in terms of another currency.

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Q. What is the Exchange Rate (ER)?

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