Asked by Emanuel Holesome on Jul 25, 2024
Verified
If the rate of exchange for a pound is $4, the rate of exchange for the dollar is
A) ¼ pound.
B) 4 pounds.
C) $0.25.
D) $1.00.
Exchange Rate
The value at which one currency can be exchanged for another in the foreign exchange market, affecting international trade and investments.
Pound
The pound is a unit of currency used in the United Kingdom and other territories, symbolized as £.
Dollar
A widely used unit of currency, notably in the United States, representing the medium of exchange within its economy.
- Master the fluctuations of exchange rates and their role in affecting global market transactions.
Verified Answer
CZ
chengjie zhengJul 27, 2024
Final Answer :
A
Explanation :
If 1 pound equals $4, then 1 dollar equals 1/4 of a pound, which is 0.25 pounds or ¼ pound.
Learning Objectives
- Master the fluctuations of exchange rates and their role in affecting global market transactions.