If the Nominal Exchange Rate Between the American Dollar and the Canadian

question 212

Multiple Choice

If the nominal exchange rate between the American dollar and the Canadian dollar is 0.89 Canadian dollars per American dollar,how many American dollars are required to buy a product that costs 2.5 Canadian dollars?

• A)$1.32
• B)$2.23
• C)$2.75
• D)$2.81

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