If the price of a basket of Canadian goods is 120 dollars, the price of a basket of South African goods is 140 rands, and the exchange rate is 7 South African rands per dollar, what is Canada's real exchange rate?

Question

Accepted Answer

6 baskets of South African goods per basket of Canadian goods

Answer

7 baskets of Canadian goods per basket of South African goods

Answer

8.2 baskets of South African goods per basket of Canadian goods

Answer

9.8 baskets of Canadian goods per basket of South African goods

Answer

8.4 baskets of South African goods per basket of Canadian goods

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If the price of a basket of Canadian goods is 120 dollars, the price of a basket...

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