1. Find B and E. For both, write down the appropriate currency i.e. $ or Euro or Lira, etc. Show your work.

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Chapter13: Open-economy Macroeconomics: Basic Concepts
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The following table shows the Exchange Rates between the US Dollar and other
currencies in August 2020. Use this table to answer all questions.
Number of US dollars required to buy
one unit of foreign currency
Units of Foreign Currency you
can buy with one US dollar
Chinese Yuan
6.87 Yuan
A
Euro
0.84 Euro
В
Japanese Yen
105.36 Yen
C
UK Pound
D
$1.34
Turkish Lira
E
$0.14
Mexican Peso
F
$0.046
1. Find B and E. For both, write down the appropriate currency i.e. $ or Euro or Lira, etc.
Show your work.
2. How much of their local currency would someone from China (local currency is Yuan)
need to buy an iPad that is being sold for $500 in the US? Show your work.
Transcribed Image Text:The following table shows the Exchange Rates between the US Dollar and other currencies in August 2020. Use this table to answer all questions. Number of US dollars required to buy one unit of foreign currency Units of Foreign Currency you can buy with one US dollar Chinese Yuan 6.87 Yuan A Euro 0.84 Euro В Japanese Yen 105.36 Yen C UK Pound D $1.34 Turkish Lira E $0.14 Mexican Peso F $0.046 1. Find B and E. For both, write down the appropriate currency i.e. $ or Euro or Lira, etc. Show your work. 2. How much of their local currency would someone from China (local currency is Yuan) need to buy an iPad that is being sold for $500 in the US? Show your work.
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