Asked by Blake cannistraro on Jul 25, 2024
Verified
If one US dollar costs 0.8 Euros,then 1 Euro must cost _____ US dollars.
A) 0.5
B) 0.8
C) 1.0
D) 1.25
E) 1.5
Euros
The official currency of the Eurozone, which is used by 19 of the 27 European Union member countries.
- Comprehend the principle of foreign exchange rates and their implications for international trade.
Verified Answer
MS
Maleia StewartJul 31, 2024
Final Answer :
D
Explanation :
If one US dollar costs 0.8 Euros, then we can set up a proportion:
1 USD / 0.8 EUR = x USD / 1 EUR
Solving for x, we get:
x = 1.25 USD
Therefore, 1 Euro must cost 1.25 US dollars.
1 USD / 0.8 EUR = x USD / 1 EUR
Solving for x, we get:
x = 1.25 USD
Therefore, 1 Euro must cost 1.25 US dollars.
Learning Objectives
- Comprehend the principle of foreign exchange rates and their implications for international trade.