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

question 124

Multiple Choice

If the nominal exchange rate between the American dollar and the New Zealand dollar is 1.36 New Zealand dollars per American dollar,how many American dollars are required to buy a product that costs 3.50 New Zealand dollars?

• A)$2.14
• B)$2.24
• C)$2.57
• D)$4.76

---

Definitions:

Mediating Technology

Technology that acts as an intermediary in facilitating communication or interaction between parties, often improving or enabling processes that were previously more challenging or impossible.

eBay

An online marketplace and auction platform that allows individuals and businesses to buy and sell a wide variety of goods and services.

Service

An intangible act or use of expertise provided to meet the needs or wants of others, often in exchange for payment.

Small-batch Production

A manufacturing technique focused on producing small quantities of products, allowing for customization and flexibility.