The Price of a Basket of Goods and Services in the U.S.is

question 61

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.

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