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If the Nominal Exchange Rate Between the Canadian Dollar and the New

Question 88

Multiple Choice

If the nominal exchange rate between the Canadian dollar and the New Zealand dollar is 1.36 New Zealand dollars per Canadian dollar, how many Canadian dollars are required to buy a product that costs 3.50 New Zealand dollars?


A) $1.26
B) $2.14
C) $2.24
D) $2.57
E) $4.76

Correct Answer:

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