Question

You observe a quotation of the Japanese yen (¥) of 0.007. You are, however, interested in the number of yen per dollar. Thus, you calculate the ____ quotation of ____ ¥/.

1) direct; 142.86
2) indirect; 142.86
3) indirect; 150
4) direct; 150
5) indirect; 0

Answer 1

The quotation of the Japanese yen is 0.007. To calculate the amount of yen per dollar, you take the reciprocal of the quotation. The indirect quotation of yen per dollar is 150.

Step-by-step explanation:

The correct answer is 3) indirect; 150.

When you have a quotation of 0.007 yen per dollar, you can calculate the number of yen per dollar by taking the reciprocal of the quotation. In this case, the reciprocal of 0.007 is approximately 142.86.

Since you are interested in the number of yen per dollar, which is the indirect quotation, you would express it as 150 yen per dollar.