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Suppose you observe the following exchange rates: 1 (euro) = $1.25; 1 (pound) = $2.00. What is the value of the pound in euros? a.

Suppose you observe the following exchange rates: 1 (euro) = $1.25; 1 (pound) = $2.00. What is the value of the pound in euros?

a.
1 = 1.60

b.
1 = 0.625

c.
2.50 = 1

d.
1 = 2.50

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