Chapter 31, Problem 1QP

Using Exchange Rates Take a look back at Figure 3 1.1 to answer the following questions:

1. a. If you have $100, how many euros can you get?
2. b. How much is one euro worth in dollars?
3. c. If you have 5 million euros, how many dollars do you have?
4. d. Which is worth more, a New Zealand dollar or a Singapore dollar?
5. e. Which is worth more, a Mexican peso or a Chilean peso?
6. f. How many Mexican pesos can you get for a euro? What do you call this rate?
7. g. Per unit, what is the most valuable currency of those listed? The least valuable?

Figure 3 1.1 Exchange Rate Quotations

Exchange Rates: New York Closing Snapshot for Friday, November 28, 2014