(1-4) Assume that consumers all around the world only consume Big Macs at MacDonald's. An American tourist found that 50 USD can purchase 30 Big Macs in India, but the same amount of money can only purchase 25 Big Macs in China. The real exchange rate between China and India is A) 1 unit of consumption goods in 5/6 unit of consumption goods in China B) 1 unit of consumption goods in 5/6 unit of consumption goods in India C) 1 unit of consumption goods in India = 2 unit of consumption goods in China D) 1 unit of consumption goods in =

(1-4) Assume that consumers all around the world only consume Big Macs at MacDonald's. An American tourist found that 50 USD can purchase 30 Big Macs in India, but the same amount of money can only purchase 25 Big Macs in China. The real exchange rate between China and India is A) 1 unit of consumption goods in 5/6 unit of consumption goods in China B) 1 unit of consumption goods in 5/6 unit of consumption goods in India C) 1 unit of consumption goods in India = 2 unit of consumption goods in China D) 1 unit of consumption goods in =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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