One reason for international investment is that
A) the economies of many countries are growing faster than that of the U.S.
B) price-earnings (P/E) ratios are higher in foreign countries.
C) doing business in foreign countries is simpler than in the U.S.
D) raw materials are typically cheaper in other countries than in the U.S.
Answer: A
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In the United States, we can buy a pair of shoes for $55. These shoes are identical in all aspects to a pair of shoes from Japan that be purchased for ¥6,000 including shipping costs
What percentage (relative to $55 U.S. cost) can we save by buying the shoes in Japan if the exchange rate is $1 for ¥120? A) 9.13% B) 9.11% C) 9.09% D) 9.07%