In principle, exchange rates are for currencies what
A) the price of apples are for apples
B) the current account is for the balance of payments
C) surpluses on current account are for deficits on current account
D) currencies are for capital accounts
E) capital accounts are for current accounts

Question

Quizplus · Accepted Answer

Exchange rates for currencies serve a similar function to the price of apples for apples, as they determine the value of one currency in terms of another, just as the price of apples determines their value in monetary terms.

In Principle, Exchange Rates Are for Currencies What