If Oranges Sell for $100 Per Crate in the United

question 47

Multiple Choice

If oranges sell for $100 per crate in the United States and 4000 pesos per crate in Mexico, the law of one price indicates that you should be able to exchange $1 for

• A)0.025 peso.
• B)4 pesos.
• C)40 pesos.
• D)400 pesos.

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Definitions:

Quantitative Data

Information that can be measured and expressed numerically, often used to quantify attitudes, opinions, behaviors, and other defined variables.

Heroin

An illegal, highly addictive opioid drug derived from morphine, commonly used for its euphoric effects but notorious for its potential to cause dependency and health issues.

Cocaine

A powerful, addictive stimulant drug derived from the leaves of the coca plant, which is native to South America.

Alcohol

A psychoactive substance found in beverages such as beer, wine, and spirits, known for its ability to alter moods and behaviors.