For each prompt below, carefully and thoroughly follow the directions. For the graphs, be certain to accurately label all axes, curves, and points as appropriate. Show your work for any calculations. (a) Draw the foreign exchange market showing the yen-price for Indian rupees. Label the equilibrium exchange rate (e1), the equilibrium quantity (Q₁), and the current exchange rate (ec). Assume that there is a surplus of the rupee at the current rate. (b) Assume the current exchange rate for the British pound in terms of the Canadian dollar is $0.50 per pound. Based on this information, draw the foreign exchange market for Canadian dollars. Assume the market is in equilibrium. Japan and Australia are trading partners. Japan uses the yen for its currency and Australia uses the Australian dollar. (c) Using side-by-side graphs of the exchange market for the yen (V) and the Australian dollar (A$), show the impact of a decrease in the demand for yen.

For each prompt below, carefully and thoroughly follow the directions. For the graphs, be certain to accurately label all axes, curves, and points as appropriate. Show your work for any calculations. (a) Draw the foreign exchange market showing the yen-price for Indian rupees. Label the equilibrium exchange rate (e1), the equilibrium quantity (Q₁), and the current exchange rate (ec). Assume that there is a surplus of the rupee at the current rate. (b) Assume the current exchange rate for the British pound in terms of the Canadian dollar is $0.50 per pound. Based on this information, draw the foreign exchange market for Canadian dollars. Assume the market is in equilibrium. Japan and Australia are trading partners. Japan uses the yen for its currency and Australia uses the Australian dollar. (c) Using side-by-side graphs of the exchange market for the yen (V) and the Australian dollar (A$), show the impact of a decrease in the demand for yen.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

answer A B C, hand draw the graphs

For each prompt below, carefully and thoroughly follow the directions. For the graphs, be certain
to accurately label all axes, curves, and points as appropriate. Show your work for any
calculations.
(a) Draw the foreign exchange market showing the yen-price for Indian rupees. Label the equilibrium
exchange rate (e1), the equilibrium quantity (Q₁), and the current exchange rate (ec). Assume that there is
a surplus of the rupee at the current rate.
(b) Assume the current exchange rate for the British pound in terms of the Canadian dollar is $0.50 per
pound. Based on this information, draw the foreign exchange market for Canadian dollars. Assume the
market is in equilibrium.
Japan and Australia are trading partners. Japan uses the yen for its currency and Australia uses
the Australian dollar.
(c) Using side-by-side graphs of the exchange market for the yen (V) and the Australian dollar (A$), show
the impact of a decrease in the demand for yen.

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Step 1: Define exchange rate

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Step 2: Graph the foreign exchange rate curve (When there is surplus)

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Step 3: Graph the foreign exchange rate curve (When there is equilibrium)

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Step 4: Graph the foreign exchange market for yen and dollars

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