Asksia AI LOGO

Sia

Question
Statistics
Posted 2 months ago

In the foreign exchange market for the Mexican peso, which of the following would best describe the exchange rate for the peso?

Choose 1 answer:
(A) The interest given up by holding pesos
(B) The price of a peso in terms of some other currency
(C) The interest rate earned from saving pesos
(D) The price of a good in Mexico in terms of another goods in Mexico
(E) The price of a peso in terms of pesos
Sign in to unlock the answer
Answer from Sia
Posted 2 months ago
Solution by Steps
step 1
Identify the correct definition of exchange rate in the context of foreign exchange markets
step 2
Review the given answer choices and eliminate those that do not match the definition of exchange rate
step 3
Recognize that the exchange rate is the price of one currency in terms of another currency
step 4
Select the answer choice that aligns with the recognized definition of exchange rate
Answer
B
Key Concept
Exchange Rate Definition
Explanation
The exchange rate is the price of one currency in terms of another currency.

Not the question you are looking for? Ask here!

Enter question by text

Enter question by image

Upgrade to Asksia Pro

Join a AskSia's Pro Plan, and get 24/7 AI tutoring for your reviews, assignments, quizzes and exam preps.

Unlimited chat query usages
Strong algorithms that better know you
Early access to new release features
Study Other Question