The ________ is the rate at which the currency of one nation can be exchanged for that of another.
A) balance of payments
B) exchange rate
C) floating interest rate
D) trade surplus

Question

Quizplus · Accepted Answer

The exchange rate is the rate at which the currency of one nation can be exchanged for that of another. The balance of payments refers to a record of all economic transactions made between one particular country and the rest of the world, including trade and financial exchanges. A floating interest rate refers to an interest rate that fluctuates in response to market conditions. A trade surplus refers to a situation where the value of a country's exports exceed the value of its imports.

The ________ Is the Rate at Which the Currency of One