In Ireland, a pint of beer costs 3 euros. In Australia, a pint of beer costs 4 Australian dollars. If the exchange rate is .8 euros per Australian dollar, what is the real exchange rate?
a. 4/2.4 pints of Irish beer per pint of Australian beer
b. 3/3.2 pint of Irish beer per pint of Australian beer
c. 3.2/3 pints of Irish beer per pint of Australian beer
d. 2.4/4 pints of Irish beer per pint of Australian beer
c
Economics
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