Suppose that the exchange rate between the United States dollar ($) and the Thai currency, baht (8), is 81=$0.05. Leticia wants to buy a B600 souvenirtrom Thalland. What is the souvenir's price in dollars?O $0.05O $1O $30O $600O $12,000

Exchange rate refers to the value of a currency in terms of another currency, for which it can be…

Suppose that the exchange rate between the United States doltlar ($) and the Thai currency, baht (8), is 81=$0.05. Leticia wants to buy a 8600 souvenir from Thalland. What is the souvenir's price in dollars? O $0.05 IS O $30 O $600 O $12.000

Suppose that the exchange rate between the United States doltlar ($) and the Thai currency, baht (8), is 81=$0.05. Leticia wants to buy a 8600 souvenir from Thalland. What is the souvenir's price in dollars? O $0.05 IS O $30 O $600 O $12.000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that the exchange rate between the United States dollar ($) and the Thai currency, baht (8), is 81=$0.05. Leticia wants to buy a B600 souvenir
trom Thalland. What is the souvenir's price in dollars?
O $0.05
O $1
O $30
O $600
O $12,000

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