Scenario: Sally goes to Japan
Sally Johnson has identified a market for her company's products in Japan. She is excited about expanding her company, but knows she needs to learn how the foreign exchange market works before she can successfully sell her products abroad.
-If Sally sees a quote of ¥117.87/$ she knows that all of these are true EXCEPT ________.
A) the yen is the quoted currency
B) this is an indirect quote on the dollar
C) this is a direct quote on the yen
D) the quote is in U.S. terms
Correct Answer:
Verified
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