Which of the following statements is most correct?
A) If one knows how many U.S. dollars it takes to buy one euro, and how many euros it takes to buy 100 Japanese yen, then it is easy to calculate the exchange rate between the dollar and the yen.
B) If the currency market is in equilibrium, and if you know how many dollars it takes to buy one euro, then it is easy to calculate the number of euros it takes to buy one dollar.
C) "European terms" means the number of units of any currency it takes to buy one U.S. dollar.
D) All of the statements above are correct.
E) Only statements a and b are correct.
Correct Answer:
Verified
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