In Ireland,a Pint of Beer Costs 3 Euros

question 46

Multiple Choice

In Ireland,a pint of beer costs 3 euros.In Australia,a pint of beer costs 4 Australian dollars.If the exchange rate is .8 euros per Australian dollar,what is the real exchange rate?

• A)4/2.4 pints of Irish beer per pint of Australian beer
• B)3/3.2 pint of Irish beer per pint of Australian beer
• C)3.2/3 pints of Irish beer per pint of Australian beer
• D)2.4/4 pints of Irish beer per pint of Australian beer

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Definitions:

Global Focus

An approach in business strategy that emphasizes understanding and catering to the needs of a global market, rather than focusing only on local or national markets.

Just-in-Time

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs.

Service Sector

The segment of the economy that produces intangible goods, such as services rather than physical products, including industries like healthcare, education, and finance.

Labour-intensive

Describing industries or processes that require a large amount of manual labor input compared to capital investment.