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

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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es
Problem 20-04 (Algo)
Refer to the World View below.
WORLD VIEW
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)
Indonesia (rupiah)
Japan (yen)
Mexico (peso)
Russia (ruble)
Eurozone (euro)
1.1144
Venezuela (bolivar)
0.1001
Source: March 2020 data from Federal Reserve Board of Govermors
b. Eurozone?
(a) U.S. Dollar per Unit
(Dollar Price of Foreign
Currency)
0.1961
1.2453
0.7145
c. Britain?
peso
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?
euro
0.1409
0.0001
0.0092
0.0429
0.0127
pound
(b) Currency per U.S.
Dollar (Foreign Price of
U.S. Dollar)
5.1006
0.80307
1.4000
7.9050
16,222.435
107.9112
23.3313
78.7265
0.8973
9.9875
Transcribed Image Text:es Problem 20-04 (Algo) Refer to the World View below. WORLD VIEW 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) Indonesia (rupiah) Japan (yen) Mexico (peso) Russia (ruble) Eurozone (euro) 1.1144 Venezuela (bolivar) 0.1001 Source: March 2020 data from Federal Reserve Board of Govermors b. Eurozone? (a) U.S. Dollar per Unit (Dollar Price of Foreign Currency) 0.1961 1.2453 0.7145 c. Britain? peso 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? euro 0.1409 0.0001 0.0092 0.0429 0.0127 pound (b) Currency per U.S. Dollar (Foreign Price of U.S. Dollar) 5.1006 0.80307 1.4000 7.9050 16,222.435 107.9112 23.3313 78.7265 0.8973 9.9875
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