Question

The nominal exchange rate of the euro is about $0.85. If the price index in the United States is 102 and the index in Europe is 114, what is the real exchange rate between the two currencies?

$.76
$.85
$1.02
$1.14

Answer 1

\[\frac{102*.85}{114}\]=.76

Answer 2

thanks last one on this

Answer 3

/would it be .76 bettween the