Suppose the us dollar price of a british pound is 150 the, Econometrics

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Suppose the us dollar price of a british pound is 150 the

Suppose the U.S. dollar price of a British pound is $1.50; the dollar price of a euro is $.90; a hotel room in London, England, costs 120 British pounds; and a comparable hotel room in Hanover, Germany, costs 220 euros.

a. Which hotel room is cheaper to a U.S. tourist?

b. What is the exchange rate between the euro and the British pound?

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Econometrics: Suppose the us dollar price of a british pound is 150 the

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Econometrics: Suppose the us dollar price of a british pound is 150 the

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