Currency Conversion and Document Analysis Quiz

What is the exchange rate used to convert $20,000 to £13,793?

• £1 = $1.25

• £1 = $1.10

• £1 = $1.45

• £1 = $1.50

Which company is mentioned in the context of a sterling slump?

• John Lewis

• Marks & Spencer

• Tesco

• Sainsbury's

Which of the following is true about exports?

• Goods come in, money flows into the UK

• Goods go out, money flows into the UK

• Goods come in, money flows out of the UK

• Goods go out, money flows out of the UK

How does a strengthening exchange rate affect exports?

• Exports become cheaper

• Exports become more expensive

• Exports remain the same

• Exports increase

What happens to import costs when the exchange rate strengthens?

• Import costs increase

• Import costs decrease

• Import costs remain the same

• Import costs double

What does the "I" in SPICED stand for?

• Imports

• Interest

• Investment

• Income

In the acronym SPICED, what does the "D" represent?

• Dear

• Discount

• Demand

• Debt

How does the conversion amount change as the exchange rate increases from £ = €1.10 to £ = €1.75?

• It increases

• It decreases

• It stays the same

• It fluctuates randomly