Multiple Choice
If the world price of cotton is $.75 per pound and Mexico's exchange rate is 14 pesos per dollar,then the peso price of cotton in Mexico (in the absence of distortionary policies) is:
A) P.08 per pound.
B) P.125 per pound.
C) P10.5 per pound.
D) P8 per pound.
Correct Answer:
Verified
Correct Answer:
Verified
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