Which of the following best defines the exchange rate?
A) The difference between the inflation rate in one country and the inflation rate in another country.
B) The rate at which the goods of one country can be exchanged for the goods of another.
C) The rate at which one currency can be exchanged for another.
D) The ratio of the number of units of one currency in circulation to the number of units of another currency in circulation.
Correct Answer:
Verified
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