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Definition of Exchange rate
The exchange rate is stated as the price of one unit of currency in terms of other currency. If one euro costs 1.5 USD then 1 USD costs 1/1.5 = 0.667 euro. If exchange rate is stated in terms of euro (for instance, 1.5 USD/euro) then euro is known as the base currency or the unit currency.
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Determine the Economic functions of money There are three functions of economics of money - A medium of exchange. - A unit of account - Store of value.
In 1 to 2 sentences respond to the following comment. "Pollution restrictions will reduce gross domestic product and therefore hurt the economy."
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Ask question #impotance of capital output ratio#
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