A barrel of oil costs 80 in the UK. An identical barrel costs $100 dollars in the

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A barrel of oil costs £80 in the UK. An identical barrel costs $100 dollars in the USA when the exchange rate is £1 = $1.50. Which statement is correct?

A trader can make money by buying the oil in Britain and selling in the United States at $100.

The United States offers a better deal.

The deal is the same in both countries.

Britain offers a better deal.

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Jan 20, 2024 06:53 AM

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