Multiple Choice
The nominal exchange rate between the Canadian dollar and the Japanese yen is 80.It means that
A) a dollar can buy 80 yen in the foreign exchange market.
B) a yen can buy 80 cents in the foreign exchange market.
C) a dollar cay buy about 0.012 yen in the foreign exchange market.
D) a yen can buy 0.20 cents in the foreign exchange market.
Correct Answer:
Verified
Correct Answer:
Verified
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