IGCSE Economics- Trade, BOP & Exchange Rates

IGCSE Economics- Trade, BOP & Exchange Rates

9th - 12th Grade

100 Qs

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IGCSE Economics- Trade, BOP & Exchange Rates

IGCSE Economics- Trade, BOP & Exchange Rates

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Medium

CCSS
6.RP.A.3B, 6.RP.A.3D

Standards-aligned

Created by

David smith

Used 64+ times

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100 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an exchange rate?

The rate at which goods are exchanged between two countries

The price of one nation's currency in terms of another's

How many US dollars you can exchange for RMB at Travelex

The price of goods in terms of a foreign currency

Tags

CCSS.6.RP.A.3B

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

According to the table, what is the Euro equivalent of 1 USD?

1.32 Euros

0.53 Euros

.76 Euros

1.59 Euros

Tags

CCSS.6.RP.A.3B

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

According to the table, what is the USD equivalent of 1 Australian?

0.97 USD

1.32 USD

1.28 USD

1.03 USD

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is an exchange rate determined in the money market?

The forces of supply and demand

Government/the Federal Reserve Bank

Whatever sellers of goods are willing to take

Investors decide the value of the currency they wish to invest

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do changing exchange rates help one country and hurt the other?

One side loses purchasing power and the other gains it

Takes money away from one side and gives it to the other

Causes war between the two countries

One country's government introduces tariffs to protect local industries

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of exchange rate system do most countries operate under?

Flexible

Floating

Fictitious

Fixed

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a fixed rate exchange system and a floating rate system?

Government sets rate vs market sets rate

Doesn't exist vs does exist

Never changing vs always changing

Currency never appreciates vs can appreciate

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