If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same…

Economics JAMB 2000

If the United Kingdom buys gold for $60 an ounce and Nigeria buys the same ounce for N500, what will be United Kingdom’s exchange rate with Nigeria?

  • $0.05 = N1.00
  • $0.06 =N1.00
  • $0.11 =N1.00
  • $0.12 =N1.00 checkmark

The correct answer is: D

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