You're the owner of a large-scale farm in the United States determining where you should source the corn to feed your livestock. The price of a metric ton of corn grown in the United States is 200 U.S. dollars. The price of a metric ton of corn grown in Mexico is 5,900 Mexican pesos. The nominal exchange rate is 19 pesos per dollar. The real exchange rate is and you buy your corn from 0.64; the United States 0.64; Mexico 1.55; the United States 1.55; Mexico