select the correct answer. which statement describes the foreign exchange rate? a. the rate at which…

select the correct answer. which statement describes the foreign exchange rate? a. the rate at which currency is spent in a foreign country b. the rate at which people exchange currency for foreign goods and services c. the rate at which one currency is converted to another currency

select the correct answer. which statement describes the foreign exchange rate? a. the rate at which currency is spent in a foreign country b. the rate at which people exchange currency for foreign goods and services c. the rate at which one currency is converted to another currency

Answer

Brief Explanations:

The foreign - exchange rate is defined as the rate at which one currency is converted into another currency. It is not about how currency is spent in a foreign country (A) or the rate for exchanging currency for goods and services (B), but rather the conversion rate between currencies.

Answer:

C. the rate at which one currency is converted to another currency