Asked by Allison Brown on Jul 06, 2024
Verified
If a Japanese importer could buy $1,000 U.S. for 111,000 yen, the rate of exchange for one dollar would be
A) 111 yen.
B) 900 yen.
C) 1,110 yen.
D) 9.01 yen.
Exchange Rate
The price at which one currency can be exchanged for another.
Japanese Importer
A business entity in Japan that purchases goods or services from abroad for sale in the Japanese market.
- Understand the basics of exchange rates and how they are determined in international markets.
Verified Answer
JR
Jessica RamosJul 10, 2024
Final Answer :
A
Explanation :
The exchange rate is calculated by dividing the amount of yen by the amount of dollars. So, 111,000 yen / $1,000 = 111 yen per dollar.
Learning Objectives
- Understand the basics of exchange rates and how they are determined in international markets.