Use EXCEL and show formula/work please The local currency in Peru is the Peruvian Nuevo Sol (PNS). In 2020, the official exchange rate betweenthe PNS and the USD was 3 (i.e., 3 PNS = 1USD). Table 1 gives local currency prices of three goods inPeru and the United States. Table 1 also gives the expenditure shares of each good (i.e., what fraction oftotal expenditures do people spend on each good).Table 1. Local Prices & Expenditure Shares in Peru and the U.S.Prices in Local CurrenciesItemExpenditure SharePeruU.S.Corn (1 kg)T-Shirts (1 shirt)Rent (2 bedroom apartment)0.36 PNS2 USD0.245 PNS15 USD0.51,000 PNS1,000 USD 7. Peru's GDP per capita in 2020 was 18,000 PNS. Calculate and report Peru's GDP per capita in USDusing the Official Versus PPP exchange rates.Peru's GDP per capita in USD using Official Exchange Rate:Peru's GDP per capita in USD using PPP Exchange Rate:

The local currency in Peru is the Peruvian Nuevo Sol (PNS). In 2020, the official exchange rate between the PNS and the USD was 3 (i.e., 3 PNS = 1USD). Table 1 gives local currency prices of three goods in Peru and the United States. Table 1 also gives the expenditure shares of each good (i.e., what fraction of total expenditures do people spend on each good).

The local currency in Peru is the Peruvian Nuevo Sol (PNS). In 2020, the official exchange rate between the PNS and the USD was 3 (i.e., 3 PNS = 1USD). Table 1 gives local currency prices of three goods in Peru and the United States. Table 1 also gives the expenditure shares of each good (i.e., what fraction of total expenditures do people spend on each good).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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