Gr 10 Math Ch 8: Foreign Exchange Rates
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Gr 10 Math Ch 8: Foreign Exchange Rates

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Questions and Answers

What happens to a currency when more money is invested in a country?

  • The currency's exchange rate becomes irrelevant
  • The currency weakens
  • The currency becomes more volatile
  • The currency strengthens (correct)

    • Which of the following currencies is NOT commonly mentioned as a major currency?

  • Euro (€)
  • Australian dollar (A$) (correct)
  • American dollar ($)
  • British pound (£)

    • What is the effect of buying local products on a country's currency?

  • It has no effect on the currency strength
  • It increases the amount of foreign currency
  • It depreciates the local currency
  • It strengthens the local currency (correct)

    • Which formula correctly represents the conversion of currency using exchange rates?

    <p>Amount in new currency = Amount in original currency / Exchange rate</p> Signup and view all the answers

    Which statement is true regarding exchange rates?

    <p>Exchange rates reflect the value of one currency in terms of another</p> Signup and view all the answers

    What happens to the strength of a currency when its economy attracts significant foreign investment?

    <p>The currency strengthens due to increased demand.</p> Signup and view all the answers

    Which of the following factors can lead to a decrease in local currency strength?

    <p>Increased local purchasing of foreign goods.</p> Signup and view all the answers

    If the exchange rate between the euro and the American dollar is 1.2, how much would 120 euros be in dollars?

    <p>$144</p> Signup and view all the answers

    What is the primary effect of buying local products on the country's economy?

    <p>It strengthens the local currency.</p> Signup and view all the answers

    Which of the following currencies is commonly used in international trade?

    <p>British pound (£)</p> Signup and view all the answers

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