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    Economics Today Study Set 1
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    Exam 33: Exchange Rates and the Balance of Payments
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    If the Foreign Exchange Rate Is One Dollar for 10
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If the Foreign Exchange Rate Is One Dollar for 10

Question 10

Question 10

Multiple Choice

If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 400 rand?


A) 10
B) 40
C) 400
D) 4,000

Correct Answer:

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