A Good Steak Dinner in the U

question 49

Multiple Choice

A good steak dinner in the U.S.costs $49 while the exact meal costs 660 pesos across the border in Mexico.Based on purchasing power parity,what is the implied peso/$ exchange rate?

• A)Ps0.0833/$1
• B)Ps12.00/$1
• C)Ps14.42/$1
• D)Ps14.67/$1
• E)Ps15.08/$1

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