Foreign Exchange Rates
 

Hi,
I am taking an economics class from an unnamed major university.

The other day in class the teacher told us something I believe to be untrue but would like a second opinion.

she said,

"USD/CAD = .714" is the same as ".714 USD/CAD" and "1 CAD = .714 USD"

I agree that the second 2 are the same, but the first one is inverted. Am I incorrect or is the teacher?

You are correct. USD/CAD is about 1.36 now.

Well I've talked to the teacher's boss and she's saying that I'm incorrect in this statement as well. She's even said that the notation is a universaly(sp?) accepted notation. She gave me an example even..

i.e. If a car gets 26 miles per gallon it can be represented either as
a) miles/gallon = 26
b) 26 miles/gallon
c) 26 mpg.

this just goes against everything I was ever taught about math equations. Is this that new math everyone is talking about? x/2 = 1 so x = 1

I was always taught that if there's an equals sign there, then it's an equation to be solved... or something like that... Please forgive any in cohereint speech.. I'm semi plastered at the moment.

You must be right. That would be like saying that (temperature).

F = 9/4 C + 32

is the same as

C= 9/4 F + 32

It is an abuse of notation, but I could see people using it.

speaking of Exchange rates...
 

Anyone tried any of those new ForEx (Foreign Exchange) deals where you can control your own investing swapping currencies?