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