WAEC Commerce 2016 Objective — Question 41
Question 41 of 50 from the West African Examinations Council (WAEC) Commerce 2016 Objective paper, with the correct answer and a full explanation.
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41. The value at which one country obtains another country's currency is A. terms of trade B. exchange rate C. bank rate D. terms of payment
- A. terms of trade
- B. exchange rateCorrect
- C. bank rate
- D. terms of payment
Explanation
Exchange rate is the rate at which one currency exchange for another.
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