Multiple Choice
If a U.S. importer can purchase 10,000 British pounds for $30,000, the rate of exchange is
A) $3 = 1 British pound in the United States.
B) $1 = 3 British pounds in the United States.
C) $0.33 = 1 British pound in Great Britain.
D) $1 = 0.33 British pound in Great Britain.
Correct Answer:
Verified
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