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Georgia State University *
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2100
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Economics
Date
Apr 3, 2024
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docx
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Exchange Rates
Assumption #1: It costs $10,000 a year to attend GSU and this figure hasn’t changed since 2015.
Assumption #2: All costs are incurred and paid at the beginning of the academic year. For example, for the 2016-17 academic year costs are paid in August 2016.
Assumption #3: 2015-16, 2016-17, and 2017-18 is sophomore year, junior year, and senior year, respectively.
Assumption #4: Terrance is from the United Kingdom and he attended GSU. He graduated in May after four years of study. Maria is from Mexico and she also graduated in May from GSU after four years of study.
Based on these assumptions and the attached Foreign Exchange Rates table, answer the following questions.
1.
How much did it cost in pounds for Terrance to attend GSU his senior year? ____________
Exchange rate: 2017= 1.29
Cost per year: $10,000
10,000/1.29= 7,751.94
It cost $7,751.94 for Terrance to attend GSU his senior year 2.
Did the pound appreciate, depreciate, or stay the same between Terrance’s sophomore and junior year?
The pound depreciated between Terrance’s sophomore and junior year.
3.
Terrance returned to school his senior year with 200 pounds. How many dollars was that worth?
1.29x200=258
Considering the fact that he returned to his senior year in 2017, 200 pounds would be worth $258
4.
How much did it cost in pesos for Maria to attend GSU her sophomore year? ____________
10,000/15.87= 158,700
During Maria’s sophomore year, it cost 158,700 pesos for her to attend GSU.
5.
Did the peso appreciate, depreciate, or stay the same between Maria’s sophomore and junior year?
Between her sophomore and junior years, the peso appreciated.
6.
Maria return to school her senior year with 300 pesos. How many dollars was that worth?
300/18.88=15.89
1
Must be Typed
Since 18.88 pesos is equal to one US dollar and due to Maria entering her senior year in 2017, her 300 pesos would be worth $15.89 during that time. EXCHANGE RATE TABLE
COUNTRY
CURRENCY
2018
2017
2016
2015
MEXICO
PESO
19.21
18.88
18.67
15.87
*UNITED KINGDOM
POUND
1.34
1.29
1.36
1.52
Please note that for Mexico the exchange rates are in terms of pesos per U.S. dollar and that
for the U.K. the exchange rates are in terms of U.S. dollar per pound. In other words, for 2018
it takes 19.21 Pesos to equal $1 and one UK pound is equal to $1.34.
2
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Related Questions
46956797448719&elSBN=9780357133606&id=1051825327&snapshotld%3D2183359&
CENGAGE MINDTAP
Q Search t
Homework (Ch 08)
1. Understanding the implications of taxes on welfare
The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax
equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario.
(?
Demand
Supply
A.
13.00 - --
B
C
9.00
D
E
5.00
18
QUANTITY (Pinckneys)
APR
étv
W
PRICE (Dollars per pinckney)
----0
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The price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending.
1. Illustrate the predictions of the…
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The price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year.
In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending.
Explain, using supply and demand…
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In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending.
How might companies in the steel and…
arrow_forward
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arrow_forward
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Explain, using supply and demand…
arrow_forward
The price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year.
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arrow_forward
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Illustrate the predictions of the…
arrow_forward
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A. Explain, using supply…
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Illustrate the predictions…
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The price of bauxite increased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900 USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending.
Do you think:
a) the supply…
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The price of bauxite increased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900 USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending.
d.How might companies in the…
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The price of bauxite increased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900 USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending.
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(a) Recently, a currency exchange-rate change has enabled the retailer to buy the pen-and-pencil set for only $21 per set. The retailer is considering passing along this cost decrease to his customers. If the retailer uses his usual markup for stationery-related gifts, calculate the new price the retailer would charge for this pen-and-pencil set.
(b) A buyer in the retailer’s organization has taken the initiative to examine the historical data on this pen-and-pencil set. She obtained data for each of the past 18 years concerning the number of units sold during the year, the price during the year, and an index of economic activity in the retailer’s market area during the year, and then carried out a regression analysis on these data. The means for each…
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Homework (Ch 08)
* MindTap - Cengage Leaming
e.com/static/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id%3D908491119&snapshotld=1937530&
3 CENGAGE MINDTAP
Q Search this
Homework (Ch 08)
8. Short-run and long-run effects of a shift in demand
Suppose that the perfectly competitive tuna industry is in long-run equilibrium at a price of $3 per can of tuna and a quantity of 600 million cans per
year. Suppose the Surgeon General issues a report saying that eating tuna is bad for your health.
The Surgeon General's report will cause consumers to demand tuna at every price. In the short run, firms will respond by
Shift the supply curve, the demand curve, or both on the following diagram to illustrate these short-run effects of the Surgeon General's
announcement.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back
to its original position, just drag it a…
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If Microsoft earned 0.85 dollars per share in 2000, what is the rate of interest applied for earnings of 2.10 dollars after ten years?
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Instruction: Solve the Nominal and Effective Interest rates and add your conclusion on the problem.
Mandy wants to get a ₱20,000 loan from a bank to start a milk tea business. The loan has a 10% interest, and it must be paid within three months. If she can choose between nominal and effective interest rates, which is more profitable for her?
(please no plagiarism, thankyou)
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Please help me.
Thankyou.
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- 46956797448719&elSBN=9780357133606&id=1051825327&snapshotld%3D2183359& CENGAGE MINDTAP Q Search t Homework (Ch 08) 1. Understanding the implications of taxes on welfare The following graph represents the demand and supply for pinckneys (an imaginary product). The black point (plus symbol) indicates the pre-tax equilibrium. Suppose the government has just decided to impose a tax on this market; the grey points (star symbol) indicate the after-tax scenario. (? Demand Supply A. 13.00 - -- B C 9.00 D E 5.00 18 QUANTITY (Pinckneys) APR étv W PRICE (Dollars per pinckney) ----0arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. 1. Illustrate the predictions of the…arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. Explain, using supply and demand…arrow_forward
- The price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. How might companies in the steel and…arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending.arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. Explain, using supply and demand…arrow_forward
- The price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. Do you think a) the supply and b) the…arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. Illustrate the predictions of the…arrow_forwardThe price of crude oil increased to its highest level due to conditions which impacted supply. Historically, crude oil has traded at between 70 and 150 USD per barrel. But the price increased to over 200 USD in March 2022. Growing demand in Canada for crude to be turned into refined petroleum, coupled with a sharp fall in production in Saudi Arabia have both been factors in the price increase. Bauxite production in Saudi Arabia for 2017- 18 fell 65% year-on-year due to an agreement with OPEC. The Energy Information Administration predicts that global consumption of crude oil is likely to be greater than production by 20 million barrels this year. In the US, companies in the steel and alumina industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of petrol. Commentators predict that most steel and alumina producers will be unaffected because crude is such a small part of their spending. a. Explain, using supply and…arrow_forward
- Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is $30. The cost of holding one unit of inventory for one year is $15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Compute the economic order quantity. Compute the ordering, carrying, and total costs for the EOQ. How much money does using the EOQ policy save the company over the policy of purchasing 4,000 plastic housing units per order?arrow_forwardThe price of bauxite increased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900 USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending. Explain, using supply and…arrow_forwardThe price of bauxite increased to its highest level due to conditions which impacted supply. Historically, bauxite has traded at between 1500 and 1600 USD per tonne. But the price increased to over 1900 USD in November 2020. Growing demand in Canada for bauxite to be turned into aluminium, coupled with a sharp fall in Jamaican production have both been factors in the price increase. Bauxite production in Jamaica for 2017-18 fell 65% year-on-year due to flood conditions causing damages as well as increased competition. The London Metal Exchange predicts that global consumption of bauxite is likely to be greater than production by 20 million tonnes next year. In the US, companies in the steel and petrol industry have put pressure on the US government to relax import controls, warning that otherwise they might run out of bauxite. Commentators predict that most steel and petrol producers will be unaffected because bauxite is such a small part of their spending. A. Explain, using supply…arrow_forward
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