Multiple Choice
Scenario: The price of a given basket of goods in Country 1 is 10 karls. The price of the same basket of goods in Country 2 is 25 ritz and is $2 in the United States. Country 1 has an income per capita of 3,200 karls, and Country 2 has an income per capita of 5,500 ritz.
-Refer to the scenario above.A basket of goods worth $1 in the United States has a price of ________ in Country 2.
A) 12.5 ritz
B) 25 ritz
C) 50 ritz
D) 320 ritz
Correct Answer:
Verified
Correct Answer:
Verified
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