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seraphel seraphel
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4 months ago
Real and Nominal Exchange Rates

If the nominal exchange rate between the U.S. dollar and the Mexican peso is 21.4 pesos per dollar, how many dollars are required to buy a product that costs 62 pesos? (Round to the nearest hundredth.)

▸ $2.90

▸ $0.56

▸ $40.60

▸ $0.35
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Macroeconomics

Macroeconomics


Edition: 3rd
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patriciakim08patriciakim08
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4 months ago
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$2.90

The solution is calculated as: product price divided by nominal exchange rate.
1

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seraphel Author
wrote...

4 months ago
Good timing, thanks!
taydav
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
elizabetheldrid
wrote...

2 hours ago
Thanks
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