Suppose that a Korean television set that costs 600 won in <?xml:namespace prefix = st1 />Korea costs $400 in the United States. These prices suggest that the exchange rate between the won and the dollar is:
A. 1.5 won per dollar
B. 0.75 won per dollar
C. $1.50 per won
D. $3 per won
Answer:A
Suppose that a Korean television set that costs 600 won in <?xml:namespace prefix = st1 />Korea costs $400 in the United States. These prices suggest that the exchange rate between the won and the dollar is:
A. 1.5 won per dollar B. 0.75 won per dollar C. $1.50 per won D. $3 per won