While on a trip to Baja California, Mexico, in January 1994, Mary bought a house worth $160,000 Mexican pesos. At that time, $1 was worth 3.10 Mexican pesos. One year later $1 was worth 5.64 pesos.Was Mary's investment a good decision? Why or why not?
While on a trip to Baja California, Mexico, in January 1994, Mary bought a house worth $160,000 Mexican pesos. At that time, $1 was worth 3.10 Mexican pesos. One year later $1 was worth 5.64 pesos.Was Mary's investment a good decision? Why or why not?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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While on a trip to Baja California, Mexico, in January 1994, Mary bought a house worth $160,000 Mexican pesos. At that time, $1 was worth 3.10 Mexican pesos. One year later $1 was worth 5.64 pesos.Was Mary's investment a good decision? Why or why not?
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