Based on the table provided, answer the following questions:Compute the U.S. dollar–yen exchange rate E$/¥ and the U.S. dollar–Canadian dollar exchange rate E$/C$ on January 20, 2016, and January 20, 2015.What happened to the value of the U.S. dollar relative to the Japanese yen and Canadian dollar between January 20, 2015, and January 20, 2016? Compute the percentage change in the value of the U.S. dollar relative to each currency using the U.S. dollar–foreign currency exchange rates you computed in (a).Using the information in the table for January 20, 2016, compute the Danish krone–Canadian dollar exchange rate Ekrone/C$. Fountry(currency)Australia (dollar)Canada (dollar)Denmark (krone)Eurozone (euro)Hong Kong(dollar)India (rupee)Japan (yen)Mexico (peso)Sweden (krona)United Kingdom(pound)United StatesJanuary 20, 2016FX per$1.4591.4516.8440.9177.82768.05116.3818.608.5830.7061.000FX per£2.0672.0569.6941.29911.08696.39164.8426.34612.1571.0001.416January 20, 2015FX per€1.4141.3987.4341.0008.96271.60136.9716.9339.4580.7631.156FX pe$1.2231.2096.4300.8657.75261.64118.4814.6478.1810.6601.000

Exchange rates refers to price of one currency with respect to price of other currency .

Answered: Based on the table provided, answer the…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 2PA

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Based on the table provided, answer the following questions:

Compute the U.S. dollar–yen exchange rate E$/¥ and the U.S. dollar–Canadian dollar exchange rate E$/C$ on January 20, 2016, and January 20, 2015.
What happened to the value of the U.S. dollar relative to the Japanese yen and Canadian dollar between January 20, 2015, and January 20, 2016? Compute the percentage change in the value of the U.S. dollar relative to each currency using the U.S. dollar–foreign currency exchange rates you computed in (a).
Using the information in the table for January 20, 2016, compute the Danish krone–Canadian dollar exchange rate ^Ekrone/C$.

Fountry
(currency)
Australia (dollar)
Canada (dollar)
Denmark (krone)
Eurozone (euro)
Hong Kong
(dollar)
India (rupee)
Japan (yen)
Mexico (peso)
Sweden (krona)
United Kingdom
(pound)
United States
January 20, 2016
FX per
$
1.459
1.451
6.844
0.917
7.827
68.05
116.38
18.60
8.583
0.706
1.000
FX per
£
2.067
2.056
9.694
1.299
11.086
96.39
164.84
26.346
12.157
1.000
1.416
January 20, 2015
FX per
€
1.414
1.398
7.434
1.000
8.962
71.60
136.97
16.933
9.458
0.763
1.156
FX pe
$
1.223
1.209
6.430
0.865
7.752
61.64
118.48
14.647
8.181
0.660
1.000

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