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Assume You Can Exchange 10 Mexican Pesos for One U

Question 46

Multiple Choice

Assume you can exchange 10 Mexican pesos for one U.S.dollar, but you need only 0.64 British pounds to get one U.S dollar.What does this imply?


A) product prices in Great Britain are much cheaper than in Mexico
B) product prices in Great Britain are much more expensive than in Mexico
C) you can get about 36 Mexican pesos for one British pound
D) you can get about 64 Mexican pesos for one British pound
E) none of the above

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