23. The price of one country\'s currency expressed in terms of another country\'

Question

23. The price of one country's currency expressed in terms of another country's currency is:
A. by definition, one unit of currency.
B. the cross inflation rate.
C. the depository rate.
D. the exchange rate.
E. the foreign interest rate.

24. The cross rate is the:
A. exchange rate between the U.S. dollar and another currency.
B. exchange rate between two currencies, neither of which is generally the U.S. dollar.
C. rate converting the direct rate into the indirect rate.
D. estimated based on the weighted average cost of capital by the agent at the exchange kiosk.
E. None of the above.

25. You are planning a trip to Australia. Your hotel will cost you A$150 per night for five
nights. You expect to spend another A$2,000 for meals, tours, souvenirs, and so forth. How
much will this trip cost you in U.S. dollars given the following exchange rates?



A. $1,926
B. $2,007
C. $2,782
D. $2,856
E. $3,926

Explanation / Answer

C. the depository rate. D. estimated based on the weighted average cost of capital by the agent at the exchange kiosk. C. $2,782

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