While Shopping in the Mexican Market, You Find That Limes

question 77

Multiple Choice

While shopping in the Mexican market, you find that limes cost 11 pesos each. You remember that back in the U.S., they cost 80 cents each. If the purchasing power parity theory holds, the rate of exchange is

• A) 13.75 pesos/dollar or 7.3 cents/peso.
• B) 80 pesos/dollar or 1.25 cents/peso.
• C) 7.3 pesos/dollar or 13.75 cents/peso.
• D) 11 pesos/dollar or .80 cents/peso.

---

Definitions:

CRM Program

Customer Relationship Management program; a system for managing a company's interactions with current and potential customers, often leveraging data analysis about customers' history with a company to improve business relationships.

On-time Delivery

The measure of a company's ability to fulfill its service or product delivery commitments within the agreed upon timeframe, critical for customer satisfaction and loyalty.

ISO Certification

A recognized standard certification verifying that an organization meets the international standards set by the International Standards Organization.

International Quality Standards

Norms and benchmarks set by international bodies that define the criteria for products, services, and systems to ensure reliability, safety, and efficiency.