Use the following table to answer questions 13-15.

Pair of Currency

Bid

Ask

$/Pound

1.40

1.45

Euro/Pound

1.30

1.40

Japanese Yen/$

100

110

Q13. Using the bid column in the above table, the bid price for Euro/$ is approximately:

a. Euro .928

b. Euro 1.076

c. Euro0.965

d Euro1.035

e. None of the above. My answer is Euro ...............

Q14. If you want to sell 1 million pounds, you receive the following in terms of the $:

a. $1,450,000

b. $1,400,000

c. More than $1,450,000

d. Less than $1,450,000

e. None of the above. My answer is $ .............

Q15. The bid price of Japanese yen ($/Japanese yen) is:

a. More than $1

b. 1/100

c. 1/110

d. The average of bid and ask prices

e. None of the above. My answer is ..................