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  3. Study Set
    Principles of Macroeconomics Study Set 8
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    Exam 18: Open Economy Macroeconomics Basic Concepts: The Prices for International Transactions Real and Nominal Exchange Rates
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    If the Exchange Rate Is
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If the Exchange Rate Is

Question 57

Question 57

Multiple Choice

If the exchange rate is .60 British pounds = $1,a bottle of ale that costs 3 pounds costs


A) $1.80.
B) $4.80.
C) $5.
D) None of the above is correct.

Correct Answer:

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