Assume That in New York,you Can Exchange $1 for

question 4

Multiple Choice

Assume that in New York,you can exchange $1 for ? .8026 or £.6400 In Berlin,£1 costs ?
1) 2539.How much profit can you earn on $1,000 using triangle arbitrage?

• A)$.59
• B)$1.17
• C)$.13
• D)$1.08
• E)$.42

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Definitions:

Representative

An individual who acts on behalf of another person(s), typically in a legislative or decision-making capacity.

Ethnographic Study

In-depth study of a culture, which uses a combination of methods including participant observation.

Culture

A society’s or group’s total way of life, including customs, traditions, beliefs, values, language, and physical products—all learned behavior, passed on from parents to children.

Subculture

describes a group within a larger culture that differentiates itself through distinct beliefs, behaviors, or interests, often having its own norms and values.