hallk19 hallk19

13-08-2020
Business

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Suppose an item sells for $125 in the United States and for 62,500 pesos in Chile. According to the law of one price, the nominal exchange rate (pesos/dollar) should be ________.

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Tundexi Tundexi

14-08-2020

Answer:

$1 = 500 Pesos

1 Pesos = $0.002

Explanation:

$125 = 62,500 Pesos

$1 = 62,500 / 125

$1 = 500 Pesos

$1 = 500 Pesos

1 Pesos = $1 / 500

1 Pesos = $0.002

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