Q. An economist will define the exchange rate between two currencies as the: (Solved)

1. amount of one currency that must be paid in order to obtain one unit of another currency

2. difference between total exports and total imports within a country

3. price at which the sales and purchases of foreign goods takes place

4. ratio of import prices to export prices for a particular country

  • a. amount of one currency that must be paid in order to obtain one unit of another currency
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