Which accurately explains what an exchange rate of 1:9 between the European euro and Mexican pesos means?
a It takes only one euro to buy nine pesos.
b It takes only one euro to buy nine pesos.
c Prices are lower in Europe than in Mexico.
d Prices are lower in Europe than in Mexico.
It takes only one peso to buy nine euros.
It takes only one peso to buy nine euros.
Goods and services are nine times as expensive in Europe.