The rate of exchange between a domestic and a foreign currency is defined as the...
Question
The rate of exchange between a domestic and a foreign currency is defined as the?Options
A)
terms of trade
B)
domestic currency price of a unit of the foreign currency
C)
foreign currency price of gold
D)
domestic currency price of gold
Related Lesson: Key Concepts and Summary | Exchange Rates and Capital Flows
The correct answer is B.
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