1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vladimir1956 [14]
3 years ago
13

Suppose the U.S. dollar is defined by law as being equal to 0.1 ounce of gold. Further suppose the British pound is defined as b

eing equal to 0.05 ounce of gold. The implied exchange rate between the pound and the dollar is
Business
1 answer:
motikmotik3 years ago
6 0

Answer:

The exchange rate is $1 = 2 pounds.

Explanation:

The exchange rate is the relative value of the two currencies. In other words, the amount of one currency you can exchange for another currency.  

The US dollar is defined as equal to 0.1 ounces of gold.  

The British Pound is defined as equal to 0.05 ounce of gold.  

The exchange rate between the two countries is

= \frac{value\ of\ US\ dollar}{value\ of\ British\ Pound}

= \frac{0.1}{0.05}

= 2

So the exchange rate is $1 = 2 pounds. This means that $1 can be used to exchange 2 pounds.

You might be interested in
Is a measure of the extent to which a system achieves its goals
Norma-Jean [14]
Yeah that’s what it means
4 0
3 years ago
Which of the following statements is CORRECT?
Lera25 [3.4K]

Answer:

c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.

Explanation:

Financial statements are used to show the financial activity of a business within a given period.

One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.

But financial report at end of year in the off-season will show low performance.

So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.

3 0
3 years ago
Jensen Company has a contribution margin ratio of 45%. This means that its variable costs are 55% of sales. True False
Sergeeva-Olga [200]

Answer:

Jensen company has a contribution margin ratio of 45%. This means that its variable costs are 55% of sales.

This statement is true

Explanation:

Contribution margin ratio is the ratio of contribution to sales. Since the contribution margin ratio is 45%, it implies that variable costs are 55% of sales.

5 0
3 years ago
In a(n) contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire
Sonja [21]

Answer:

Output; Is

In a(n) <u>output</u> contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire quantity. In a(n) contract, the buyer agrees to purchase 100 percent of its goods from one seller. These kinds of contracts <u>is</u> enforceable under the UCC.

7 0
3 years ago
Is marketing strategy and competitive position the same thing
kirill [66]

Answer:

Technically yes

Explanation:

if you think about it marketing strategy and competitive position are the same thing bc lower and higher are in common

7 0
3 years ago
Other questions:
  • What would happen to the buying power of your investment after one year if your rate of return was 8% and the rate of inflation
    13·1 answer
  • Bailey Hill Co. uses the indirect method to determine its net cash flows from operating activities. During the course of the yea
    11·1 answer
  • Which of the following is a nondepreciable asset?
    6·2 answers
  • On March 1, Retro Inc. reported a balance in Supplies onf $200. During March, the company purchased supplies for $950 and consum
    9·1 answer
  • Under absorption costing, which of the following statements is not true? Multiple Choice Fixed inventory costs are treated in th
    12·1 answer
  • Service providers should refrain from asking feedback from customers to save time that can be used to provide better service qua
    15·2 answers
  • Industrialization Enterprise is considering a three-year project that will require an initial investment of $44,000. If market d
    7·1 answer
  • When Paradise Incorporated, a travel insurance company, decided to introduce new goals for its internal management, there was a
    10·1 answer
  • Traditional management thinking treated human resource management primarily as a means to support a company's strategy. Traditio
    15·1 answer
  • an employee is found to have grossly mistreated a client, which the employee has never done before. what consequence should be a
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!