If the Price of a Sofa Is $800 in the U.S.and

question 39

Multiple Choice

If the price of a sofa is $800 in the U.S.and 2400 pesos in Argentina,and the exchange rate is 4 pesos per dollar,what is the real exchange rate?

• A)3
• B)4/3
• C)3/4
• D)None of the above is correct.

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Definitions:

Equality

The property of distributing economic prosperity uniformly among the members of society.

Decision Making

The cognitive process resulting in selecting a course of action among several alternatives.

Change Minds

The process of altering one's thoughts, opinions, or decisions based on new information or reconsideration.

Reluctant

Feeling or showing hesitation, unwillingness, or disinclination.