ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The price of one nation’s currency in terms of another nation’s currency
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tariff
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embargo
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quota
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exchange rate
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Explanation:
Detailed explanation-1: -An exchange rate is a rate at which one currency will be exchanged for another currency. Most exchange rates are defined as floating and will rise or fall based on the supply and demand in the market. Some exchange rates are pegged or fixed to the value of a specific country’s currency.
Detailed explanation-2: -An exchange rate is a relative price of one currency expressed in terms of another currency (or group of currencies).
Detailed explanation-3: -A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first listed currency of a currency pair is called the base currency, and the second currency is called the quote currency.
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