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If the nominal exchange rate is 12 Mexican pesos per $1Question 9 (1 point) If the nominal exchange rate is 12 Mexican pesos per $1, a margarita that costs 36 pesos in Mexico costs

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Answer #1

12 mexian pesos = 1 Dollar

1 mexian pesos = 1/12 Dollar

36 mexian pesos = 36 * 1/12 Dollar = 3 dollar

Last option is correct answer

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