The _____ helps us to compare the relative prices of goods and services in different countries.

Question

Quizplus · Accepted Answer

Exchange rate helps us to compare the relative prices of goods and services in different countries. It refers to the value of one country's currency in terms of another country's currency. For example, if the exchange rate between the US dollar and the Euro is 1 USD = 0.85 EUR, it means that one US dollar can be exchanged for 0.85 Euros. By comparing exchange rates, we can determine whether goods and services cost more or less in one currency compared to another.

The _____ Helps Us to Compare the Relative Prices of Goods