Multiple Choice
The price of a basket of goods and services in the U.S.is $600.In Canada the same basket of goods costs 700 Canadian dollars.If the nominal exchange rate were 1.2 Canadian dollars per U.S.dollar,what would be the real exchange rate?
A) 700/600
B) 600/700
C) 700/720
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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