Question

A student makes the following​ observation: It currently takes 80 yen to buy 1 U.S.​ dollar, which shows that the United States must be a much wealthier country than Japan. But it takes more than 1 U.S. dollar to buy 1 British​ pound, which shows that Great Britain must be a wealthier country than the United States. Do you agree with the​ student's reasoning?​ Why?

Answer 1

That statement is wrong.

Step-by-step explanation:

First of all the wealth of a country is not in its currency value, why, because the price of a currency changes everyday according to the supply and demand interaction and in every country the price is different, secondly, what is necessary to look is the relationship between the general income and the general prices inside of the country to conclude the richness.