Suppose the nominal exchange rate between the yen and the U.S. dollar is 220 yen per U.S. dollar, and that the nominal exchange rate between the Canadian dollar and the U.S. dollar is 1.10 Canadian dollars per U.S. dollar. How many yen would it take to buy a Canadian dollar?
A) 200
B) 20
C) 0.5
D) 0.005
Correct Answer:
Verified
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