Foreign Exchange Rates The foreign exchange midrange rates here show (a) how many U.S. dollars are needed to buy one unit of foreign currency and (b) how many units of foreign currency are needed to buy one U.S. dollar. Country Brazil (real) Britain (pound) Canada (dollar) China (yuan) (a) U.S. Dollar per Unit (Dollar Price of Foreign Currency) 0.1961 1.2453 0.7145 0.1409 0.0001 Indonesia (rupiah) Japan (yen) 0.0092 Mexico (peso) 0.0429 Russia (ruble) 0.0127 Eurozone (euro) 1.1144 Venezuela (bolivar) 0.1001 Source March 2020 data from Federal Reserve Board of Govermors b. Eurozone? c. Britain? If a McDonald's Big Mac meal sold for $5.00 in March 2020, how much would it cost in the currencies of Instructions: Round your responses to two decimal places. a. Mexico? peso (b) Currency per U.S. Dollar (Foreign Price of U.S. Dollar) euro pound 5.1006 0.80307 1.4000 7.9050 16,222.435 107.9112 23.3313 78.7265 0.8973 99875
Foreign Exchange Rates The foreign exchange midrange rates here show (a) how many U.S. dollars are needed to buy one unit of foreign currency and (b) how many units of foreign currency are needed to buy one U.S. dollar. Country Brazil (real) Britain (pound) Canada (dollar) China (yuan) (a) U.S. Dollar per Unit (Dollar Price of Foreign Currency) 0.1961 1.2453 0.7145 0.1409 0.0001 Indonesia (rupiah) Japan (yen) 0.0092 Mexico (peso) 0.0429 Russia (ruble) 0.0127 Eurozone (euro) 1.1144 Venezuela (bolivar) 0.1001 Source March 2020 data from Federal Reserve Board of Govermors b. Eurozone? c. Britain? If a McDonald's Big Mac meal sold for $5.00 in March 2020, how much would it cost in the currencies of Instructions: Round your responses to two decimal places. a. Mexico? peso (b) Currency per U.S. Dollar (Foreign Price of U.S. Dollar) euro pound 5.1006 0.80307 1.4000 7.9050 16,222.435 107.9112 23.3313 78.7265 0.8973 99875
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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