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Suppose the real exchange rate is 3/5 kilograms of Chilean beef per kilogram of Canadian beef, a kilogram of Canadian beef costs $3, and the

Suppose the real exchange rate is 3/5 kilograms of Chilean beef per kilogram of Canadian beef, a kilogram of Canadian beef costs $3, and the nominal exchange rate is 400 Chilean pesos per dollar. What does Chilean beef cost?

Select one:

a.1500 pesos per kilogram

b.2000 pesos per kilogram

c.960 pesos per kilogram

d.1200 pesos per kilogram

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