________ refers to the price of one currency in terms of another.
A) Tariff
B) Exchange rate
C) Duty
D) National income

Question

Quizplus · Accepted Answer

Exchange rate is defined as the price of one currency in terms of another. Tariff and duty refer to taxes that are imposed on imported goods, while national income refers to the total income earned by the country's residents and businesses. Therefore, the correct choice is B) Exchange rate.

________ Refers to the Price of One Currency in Terms