What is the percentage change in price for an American importer of Ind
What is the percentage change in price for an American importer of Indian sitar music cassettes if the Indian rupee/U.S. dollar exchange rate goes from 12 rps./$ to 14rps./$ and the price of a cassette is 50 rupees?
A) −16.7%
B) −14.4%
C) +20.2%
D) +16.5%
E) +14.2%
ANSWER
B
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