The nominal exchange rate between the Canada dollar and the Japanese yen is the:
A) number of yen you can get for lending one dollar in Japan for one year.
B) number of yen you can get for one dollar.
C) price of Canadian goods divided by the price of Japanese goods.
D) price of Japanese goods divided by the price of Canadian goods.

Question

Quizplus · Accepted Answer

The nominal exchange rate is the rate at which one currency can be exchanged for another. In this case, it is specifically asking for the exchange rate between the Canadian dollar and the Japanese yen. The answer is therefore the number of yen you can get for one dollar, making option B the correct answer.

The Nominal Exchange Rate Between the Canada Dollar and the Japanese