The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2

-When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:
A)1 Swiss franc = $1.16.
B)1 Swiss franc = $0.16.
C)1 Swiss franc = $0.84.
D)$1 = 1.16 Swiss franc.
E)$1 = 1.84 Swiss franc.

Question

The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2
 
-When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:
A)1 Swiss franc = $1.16. 
B)1 Swiss franc = $0.16. 
C)1 Swiss franc = $0.84. 
D)$1 = 1.16 Swiss franc. 
E)$1 = 1.84 Swiss franc.

Quizplus · Accepted Answer

The Answer of The figure given below depicts the foreign exchange market for British pounds traded for U.S. dollars.Figure 22.2
 
-When a U.S. importer needs $22,000 to settle an invoice for 25,520 Swiss francs, the exchange rate must be:
A)1 Swiss franc = $1.16. 
B)1 Swiss franc = $0.16. 
C)1 Swiss franc = $0.84. 
D)$1 = 1.16 Swiss franc. 
E)$1 = 1.84 Swiss franc.

The Figure Given Below Depicts the Foreign Exchange Market for British