If 60 Pesos Can Be Exchanged for $5 in the Foreign

question 127

Multiple Choice

If 60 pesos can be exchanged for $5 in the foreign exchange market,which of the following represents the nominal exchange rate between the two currencies?

• A) 12 dollars for 1 peso
• B) 1 dollar for 12 pesos
• C) 5 pesos for 1 dollar
• D) 1 dollar for 60 pesos

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