Answered: IF $1 = 106.45 Japanese yen, 1 Japanese…

IF $1 = 106.45 Japanese yen, 1 Japanese yen = 0.00966 euro, and 1 euro = 9.0606 Mexican pesos, then $1 must be ___ Mexican peso. (Answer must have 4 decimal places)

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Open-economy Macroeconomics: Basic Concepts

Section13.3: A First Theory Of Exchange-rate Determination: Purchasing-power Parity

Problem 3QQ

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IF $1 = 106.45 Japanese yen, 1 Japanese yen = 0.00966 euro, and 1 euro = 9.0606 Mexican pesos, then $1 must be ___ Mexican peso. (Answer must have 4 decimal places)

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