Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a U.S. dollar purchases 30 Thai bhat, and a bouquet of flowers costs $12 in the U.S. and 480 bhat in Thailand, what is

If a U.S. dollar purchases 30 Thai bhat, and a bouquet of flowers costs $12 in the U.S. and 480 bhat in Thailand, what is the real exchange rate?

Choix de groupe de rponses

40 Thai bouquets per U.S. bouquet

1.33 Thai bouquets per U.S. bouquet

0.75 Thai bouquets per U.S. bouquet

30 Thai bouquets per U.S. bouquet

Show work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics Today

Authors: Roger LeRoy Miller

16th edition

132554615, 978-0132554619

More Books

Students also viewed these Economics questions