You're Travelling in Japan and Are Thinking About Buying a New

Multiple Choice

You're travelling in Japan and are thinking about buying a new kimono.You've decided you'd be willing to pay $175 for a new kimono, but kimonos in Japan are all priced in yen.If the kimono you're looking at costs 14,000 yen, under which of the following exchange rates would you be willing to purchase the kimono? (Assume no taxes or duties are associated with the purchase.)

A) 24.5 yen per Canadian dollar
B) 45 yen per Canadian dollar
C) 65 yen per Canadian dollar
D) 80 yen per Canadian dollar
E) You would purchase the new kimono at any of the above exchange rates.