Suppose the Real Exchange Rate Is 3/5 Kilograms of Chilean

question 134

Multiple Choice

Suppose the real exchange rate is 3/5 kilograms of Chilean beef per kilogram of Canadian beef, a kilogram of Canadian beef costs $3, and the nominal exchange rate is 500 Chilean pesos per dollar. What does Chilean beef cost?

• A) 960 pesos per kilogram
• B) 1200 pesos per kilogram
• C) 1500 pesos per kilogram
• D) 2500 pesos per kilogram

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