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:

Employer Rights

Legal entitlements and powers that allow business owners and managers to conduct business, manage their employees, and make decisions regarding workplace operations.

Union Contract

A written agreement between a labor union and an employer that outlines the terms of employment, including wages, hours, working conditions, and grievance procedures.

Legally Binding

A contract or agreement that is enforceable by law, where parties are obligated to fulfill their contractual duties.

Terms of Employment

The conditions and agreements under which employees are hired, including duties, hours, salary, and benefits.