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Exchange Rates: Nominal and Real

23. Exchange Rates / Exchange Rates: Nominal and Real / Problem 5

Problem 5

Calculate the real exchange rate if the nominal exchange rate is 1.2 CAD/USD, the price of a product in the US is \$8, and the price in Canada is CAD 10.

A

1.5

B

0.8

C

1.2

D

0.96