If a bushel of rice costs 500 yen in Japan and 100 pesos in Mexico, and someone

Question

If a bushel of rice costs 500 yen in Japan and 100 pesos in Mexico, and someone could sell a bushel of rice in Japan for yen, take those yen and exchange them for pesos, then buy a bushel of rice in Mexico, then the nominal exchange rate is ____ and the real exchange rate is ____. Answer 5; 5 1; 1 1; 5 5; 1 If a bushel of rice costs 500 yen in Japan and 100 pesos in Mexico, and someone could sell a bushel of rice in Japan for yen, take those yen and exchange them for pesos, then buy a bushel of rice in Mexico, then the nominal exchange rate is ____ and the real exchange rate is ____. If a bushel of rice costs 500 yen in Japan and 100 pesos in Mexico, and someone could sell a bushel of rice in Japan for yen, take those yen and exchange them for pesos, then buy a bushel of rice in Mexico, then the nominal exchange rate is ____ and the real exchange rate is ____. 5; 5 1; 1 1; 5 5; 1 5; 5 1; 1 1; 5 5; 1

Explanation / Answer

5; 1

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