Foreign exchange rates are necessary to
A) compare the demand and supply of goods traded internationally.
B) balance imports and exports in the international market.
C) ensure cultural exchanges across countries.
D) compare prices stated in foreign currency.
E) allow Americans to travel abroad.

Question

Quizplus · Accepted Answer

Foreign exchange rates are necessary to compare prices stated in foreign currency, as it allows individuals and businesses to understand the value of goods and services in relation to their own currency. This is important for international trade and investment decisions.

Foreign Exchange Rates Are Necessary to