Question
If the US dollar Euro exchange rate is, $1 = 4, and wages in France are 12.00 per hour, note that represents Euros and wages
If the US dollar Euro exchange rate is, $1 = 4, and wages in France are 12.00 per hour, note that represents Euros and wages in the U.S. are $24.00 per hour,
How much more are US wage when compared to French wages.
A) US labor is 8 times more expensive than French labor
B) US labor is 1/6 as expensive as French labor
C) US and French labor are the same price
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Intermediate Microeconomics and Its Application
Authors: walter nicholson, christopher snyder
11th edition
9781111784300, 324599102, 1111784302, 978-0324599107
