Asked by Karen Macauley on May 08, 2024
Verified
If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 250 yen, then the dollar price of yen is
A) $0.004.
B) $4.
C) $0.40.
D) $0.04.
Exchange Rate
The value of one country's currency in terms of another currency.
- Compute and analyze exchange rates, as well as understand their real-world consequences for global transactions.
Verified Answer
VK
veerpal kaur bhullarMay 15, 2024
Final Answer :
A
Explanation :
The dollar price of yen is calculated as 1 divided by the exchange rate, so $1 / 250 yen = $0.004.
Learning Objectives
- Compute and analyze exchange rates, as well as understand their real-world consequences for global transactions.