Think of the U.S. as the domestic country and Great Britain (GB) as the foreign country. Let "
e
" stand for the domestic price of one unit of the foreign currency. If
e=0.5
, then a guitar in the US listed at
£2,000
would cost
$500
.
$1
would cost approximately
£1.20
. a guitar in GB listed at
£2,000
would cost
$1,000
. none of the other options. a guitar in GB listed at
£2,000
would cost
$4,000
.

Question

Think of the U.S. as the domestic country and Great Britain (GB) as the foreign country. Let "

e

" stand for the domestic price of one unit of the foreign currency. If

e=0.5

, then a guitar in the US listed at

£2,000

would cost

$500

.

$1

would cost approximately

£1.20

. a guitar in GB listed at

£2,000

would cost

$1,000

. none of the other options. a guitar in GB listed at

£2,000

would cost

$4,000

.

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(Solved): Think of the U.S. as the domestic country and Great Britain (GB) as the foreign country. Let " e " s ...