Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 6, Problem 1E
To determine
(a)
The price of 1 US dollar in terms of euro, given the exchange rate 1 euro = $1.41
Expert Solution
Answer to Problem 1E
$1 = 0.71 euro
Explanation of Solution
1 euro = $1.41
So, $1 =
$1 = 0.71 euro
Economics Concept Introduction
Exchange rate − The value of one currency in terms of another currency.
To determine
(b)
The price of 1 US dollar in terms of euro, given the exchange rate 1 Chines Yuan = $0.15
Expert Solution
Answer to Problem 1E
$1 = 6.67 Chinese Yuan
Explanation of Solution
1 Chines Yuan = $0.15
So, $1 =
$1 = 6.67 Chinese Yuan
Economics Concept Introduction
Exchange rate − The value of one currency in terms of another currency.
To determine
(c)
The price of 1 US dollar in terms of euro, given the exchange rate 1 Israeli shekel = $0.28
Expert Solution
Answer to Problem 1E
$1 = 3.57 Israeli shekel
Explanation of Solution
1 Israeli shekel = $0.28
So, $1 =
$1 = 3.57 Israeli shekel
Economics Concept Introduction
Exchange rate − The value of one currency in terms of another currency.
To determine
(d)
The price of 1 US dollar in terms of euro, given the exchange rate 1 Kuwaiti dinar = $3.60
Expert Solution
Answer to Problem 1E
$1 = 0.28 Kuwaiti dinar
Explanation of Solution
1 Kuwaiti dinar = $3.60
$1 =
$1 = 0.28 Kuwaiti dinar
Economics Concept Introduction
Exchange rate − The value of one currency in terms of another currency.
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