If one dollar exchanges for 100 Japanese yen, then
A) a yen is worth $1
B) $10 will exchange for one yen
C) a yen is worth $100
D) the United States gets 100 times the number of goods for its currency than does the yen
E) one yen is worth a penny

Question

Quizplus · Accepted Answer

If one dollar exchanges for 100 Japanese yen, then one yen is equivalent to 1/100 of a dollar. Since 1/100 of a dollar is $0.01, this means one yen is worth a penny.

If One Dollar Exchanges for 100 Japanese Yen, Then