When planning a trip to France,Jim and his wife,both Americans,were concerned about how much they could afford to spend in Europe because sometimes the U.S.dollar will buy more goods and sometimes it will buy less,based on changing economic conditions.The ____ rate is the rate at which the currency of one area or country can be exchanged for the currency of another's.

Question

Quizplus · Accepted Answer

The exchange rate is the rate at which the currency of one area or country can be exchanged for the currency of another's. This is the exact term that fits the description given in the sentence. The other options are not relevant to the given context.

When Planning a Trip to France,Jim and His Wife,both Americans,were