Assume the real GDP of Brazil in 2020 was R 6 billion (Real). If the exchange rate was 1 Real = $0.25, calculate the real GDP of Brazil in US dollars in 2020. Group of answer choices $1.5 billion $24 billion $4 billion $2.4 billion
Assume the real GDP of Brazil in 2020 was R 6 billion (Real). If the exchange rate was 1 Real = $0.25, calculate the real GDP of Brazil in US dollars in 2020. Group of answer choices $1.5 billion $24 billion $4 billion $2.4 billion
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter6: Managing In The Global Economy
Section: Chapter Questions
Problem 12E
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Question
Assume the real
If the exchange rate was 1 Real = $0.25, calculate the real GDP of Brazil in US dollars in 2020.
Group of answer choices
$1.5 billion
$24 billion
$4 billion
$2.4 billion
Expert Solution
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Step 1
Given information
1 real=$0.25
Real GDP of Brazil=R 6 Billion
The exchange rate represents the value of one currency in terms of the other currency.
Real GDP is the GDP that is adjusted for inflation.
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