If a certain automotive part can be purchased in Mexico for 58 pesos or in Canada for $6.25 and if the nominal exchange rate is 10 pesos per Canadian dollar,then the automotive part
A) is more expensive in Mexico.
B) is more expensive in Canada.
C) is less expensive in Canada.
D) costs more in Mexico.
E) costs the same in Mexico and Canada.
Correct Answer:
Verified
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