Answer to Question #277725 in Microeconomics for crooney

Question #277725

What is a foreign exchange rate? (2) (a) The rate at which the currency of one country trades for the goods of another country. (b) The rate at which one country’s goods trade for those of another country. (c) The rate at which currencies of different countries are exchanged. (d) The rate at which one country’s currency trades for gold provided by another country

Expert's answer

(c) The rate at which currencies of different countries are exchanged.

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