ScienceEconomicsCurrencies and Exchange Rates
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Currencies and Exchange Rates

Abigail Collins avatar Abigail Collins
2 December 2022
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10 test answers

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question
Each currency has a changing value relative to other currencies. This is referred to as a currency's
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exchange rate
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For the time period shown, the value of the US dollar was generally
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rising against the Canadian dollar.
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In this table, the reference currency is the
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euro.
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Which statements accurately describe a country's currency? Select all that apply.
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-The currency is easily divisible. -The currency has a value that can change. -The currency has denominations.
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Which factor plays a role in establishing the value of a country's currency?
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supply and demand
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If you lived in Great Britain and wanted to buy one euro, how much would it cost?
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less than a pound
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What is an example of a country that makes use of another nation's currency?
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Panama
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By devaluating the bolivar, the president of Venezuela has
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increased the number of bolivars needed to buy one dollar.
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Who decides which currency each country in the world uses?
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each individual country
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A currency shared by several countries in Europe is the
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Euro