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Describe how exchange rate is expressed in some nation
In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rate would be expressed as 9.2 DKK/GBP. Hence, you have to invert exchange rate if you want to figure out how much one unit of a foreign currency costs in UK. This method is known as the indirect method of specifying exchange rate and notation is sometimes termed as British notation.
While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.
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Give detail explanation of Exchange Rate In most countries, exchange rate is expressed using foreign currency as base currency. For instance, in Denmark, USD exchange rate woul
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