AICPA每日一练之BEC【2016-1-29】

高顿网校2016-01-29 09:59Lynn.yu
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Exchange rates are determined by

a. Each industrial country’s government.

b. The International Monetary Fund.

c. Supply and demand in the foreign currency market.

d. Exporters and importers of manufactured goods.

Answer:C

Choice "c" is correct. The requirement is to describe how exchange ratesare determined. The correct answer is (c) because exchange rates are determined in the same way price is determined for other goods, based on demand and supply. Answers (a), (b), and (d) are incorrect because while they can have a temporary influence on exchange rates, supply and demand is the major determining factor.

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