If the Cost of a Typical Basket of Goods in the U.S

question 149

Multiple Choice

If the cost of a typical basket of goods in the U.S. is $100 and in China it is 500 yuan, and the nominal exchange rate is 10 yuan per dollar, what is the real exchange rate?

• A) 1.
• B) 2.
• C) 3.
• D) 4.

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Definitions:

Paraphrasing

The act of rewording or summarizing a text or speech using different words, often to clarify meaning or convey the same information in a new way.

Ableism

Discrimination and social prejudice against people with disabilities, based on the belief that typical abilities are superior.

Fatalism

The belief that all events are predetermined and therefore inevitable, often leading to a sense of powerlessness.

First Nation

A term used in Canada to refer to indigenous peoples, specifically those that are not Inuit or Métis.