Which of the following is NOT a reason why citizens of the United States would want to buy the euro?

Choose 1 answer:
(A) To buy European goods
(B) For tourism travel to the United States from Europe
(c) For tourism travel to Europe from the United States
(D) To buy public financial assets in Europe
(E) To buy private financial assets in Europe

Question

Which of the following is NOT a reason why citizens of the United States would want to buy the euro?

Choose 1 answer:
(A) To buy European goods
(B) For tourism travel to the United States from Europe
(c) For tourism travel to Europe from the United States
(D) To buy public financial assets in Europe
(E) To buy private financial assets in Europe

Accepted Answer

∻Solution by Steps∻ ‖ step 1 ⋮ Identify the reasons why citizens of the United States would want to buy the euro. ‖ ‖ step 2 ⋮ Evaluate each option to determine which one is not a reason for U.S. citizens to buy euros. ‖ ‖ step 3 ⋮ Recognize that U.S. citizens would buy euros for transactions that involve receiving goods, services, or assets from Europe. ‖ ‖ step 4 ⋮ Understand that tourism travel to the United States from Europe would not require U.S. citizens to buy euros; instead, European tourists would need to exchange euros for U.S. dollars. ‖ ∻Answer∻ ***B*** ∻Key Concept∻ ⚹Reasons for currency exchange⚹ ∻Explanation∻ ⚹U.S. citizens exchange dollars for euros when they are the ones engaging in tourism, buying goods, or investing in Europe, not when European citizens travel to the U.S.◊What is the probability of a person selecting the correct answer by guessing in the scenario described by the student⍭ Generate me a similar question◊⚹

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