When Ted Giovanni was preparing for his trip to Brazil, he found that he could go to his bank and trade his 10 U.S.dollars for 37.11 Brazilian real (the nation's currency) .In this instance, the _____ was one U.S.dollar to 3.711 Brazilian real.
A) exchange rate
B) balance of payments
C) foreign trade rate
D) international trade rate
E) balance of trade rate
Correct Answer:
Verified
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