ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ is a transaction that charges a nominal fee.
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Spot rate
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Currency exchange
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Inflation
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Marginal cost
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Explanation:
Detailed explanation-1: -The nominal exchange rate E is defined as the number of units of the domestic currency that can purchase a unit of a given foreign currency. A decrease in this variable is termed nominal appreciation of the currency. (Under the fixed exchange rate regime, a downward adjustment of the rate Eis termed revaluation.)
Detailed explanation-2: -The nominal exchange rate is defined as the number of domestic currency that can be used to purchase one unit of a foreign currency. For example, the number of Kenyan shillings that can be used to purchase one USD.
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