Answer the next question on the basis of the following table,which indicates the dollar price of libras,the currency used in the hypothetical nation of Libra.Assume that a system of freely floating exchange rates is in place. 
The exchange rate is:
A) 4 libras for one dollar.
B) .25 libra for one dollar.
C) .40 libra for one dollar.
D) 3 libras for one dollar.
At equilibrium,1 libra = $4,so .25 libra = $1.
Correct Answer:
Verified
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