multiple choice question\nduring his most recent trip to mexico, gerard was able to purchase 15 mexican…

multiple choice question\nduring his most recent trip to mexico, gerard was able to purchase 15 mexican pesos for each american dollar he had. this transaction is an example of ______\n\nan embargo\na trading bloc\nthe exchange rate\na tariff

multiple choice question\nduring his most recent trip to mexico, gerard was able to purchase 15 mexican pesos for each american dollar he had. this transaction is an example of ______\n\nan embargo\na trading bloc\nthe exchange rate\na tariff

Answer

Brief Explanations:

An exchange rate is the value of one currency in terms of another. Here, 1 US - dollar can buy 15 Mexican pesos, which represents the exchange rate between the two currencies. An embargo is a government - imposed restriction on trade. A trading bloc is a group of countries that agree on certain trade policies. A tariff is a tax on imported goods.

Answer:

C. the exchange rate