Multiple Choice
Suppose $1 = 120 yen in New York, $1 = 2 euros in London, and one euro = 75 yen in Tokyo. A speculator with $1 million would get a profit of _____ by engaging in a 3-point arbitrage.
A) $1.20
B) 150,000 yen
C) $250,000
D) $1.25 million
Correct Answer:
Verified
Correct Answer:
Verified
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