The nominal exchange rate between Japan and the United States is about 109 yen per U.S. dollar. You visit the Tsukiji Fish Market in Tokyo and purchase a piece of fish for 1,350 yen. How much did your fish cost in U.S. dollars?

Question

Quizplus · Accepted Answer

To find the cost of the fish in U.S. dollars, we need to divide the price in yen by the exchange rate:

1,350 yen / 109 yen per dollar = 12.39 dollars

Rounding to two decimal places, the cost of the fish in U.S. dollars is $12.40. Therefore, the correct answer is D.

The Nominal Exchange Rate Between Japan and the United States