If the exchange rate is 1 US dollar = 20 Mexican pesos, then 1 Mexican peso equals --------- a) 5 cents in US currency b) 20 cents in US currency c) None of the choices is correct d) 1 US dollar e) 10 cents in US currency

If the exchange rate is 1 US dollar = 20 Mexican pesos, then 1 Mexican peso equals --------- a) 5 cents in US currency b) 20 cents in US currency c) None of the choices is correct d) 1 US dollar e) 10 cents in US currency

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter22: International Finance

Section: Chapter Questions

Problem 5WNG

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Question

If the exchange rate is 1 US dollar = 20 Mexican pesos, then 1 Mexican peso equals ---------

a) 5 cents in US currency

b) 20 cents in US currency

c) None of the choices is correct

d) 1 US dollar

e) 10 cents in US currency

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