It costs $80 for a dental appointment in the U.S. It costs 600 Egyptian pounds f

ID: 1235857 • Letter: I

Question

It costs $80 for a dental appointment in the U.S. It costs 600 Egyptian pounds for the same appointment in Egypt. The nominal exchange rate is 7 pounds per dollar. The real exchange rate is
Answer
1. less than one. Dental appointments in Egypt are cheaper than in the U.S.
2. less than one. Dental appointments in Egypt are more expensive than in the U.S.
3. greater than one. Dental appointments in Egypt are more expensive than in the U.S.
4. greater than one. Dental appointments in Egypt are cheaper than in the U.S.

Explanation / Answer

3. greater than one. Dental appointments in Egypt are more expensive than in the U.S. Hope this helped, best of luck.

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It costs $80 for a dental appointment in the U.S. It costs 600 Egyptian pounds f

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