Table 19-1
?
American Coal
British Coal
Cost per Ton
Cost per Ton
$150
£75

From Table 19-1, what is the exchange rate between the dollar and the pound?

A. 1 dollar is worth 2 pounds.
B. 1 pound is worth 2 dollars.
C. 1 pound is worth 1 dollar.
D. 1 pound is worth 50 cents.


Answer: B

Economics

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