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Economics · May / June 2022 · Paper 11 · Question 27

2281Foreign exchange rates

What is the definition of foreign exchange rate?

  1. Athe difference between emigration and immigration
  2. Bthe difference between the values of imports and exports
  3. Cthe price of one currency in terms of another
  4. Dthe price of one good in terms of another

As printed in the paper

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Correct answer: C. the price of one currency in terms of another

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