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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 45
Use the exchange rates listed in Figure 6 to find how much it would cost in the currency specified to make the purchases listed in problems 5 through 8.
F igure 6
Exchange Rates: Foreign Currency per American Dollar, January 12, 2013
How many Mexican pesos would you get for a dollar? You would get 12.2 pesos. Can you figure out how many dollars (actually how many cents) you would get for a peso? You would get 8.2 cents. Exchange rates fluctuate from minute to minute, and they are usually calibrated to hundredths, or even thousandths of a cent.
Source: The Federal Reserve, www.federalreserve.gov.
A country had exports of $100 billion, imports of $90 billion, net transfers from abroad of - $10 billion, and - $5 billion of net income from foreign investments. What is the country's current account balance?
F igure 6
Exchange Rates: Foreign Currency per American Dollar, January 12, 2013
How many Mexican pesos would you get for a dollar? You would get 12.2 pesos. Can you figure out how many dollars (actually how many cents) you would get for a peso? You would get 8.2 cents. Exchange rates fluctuate from minute to minute, and they are usually calibrated to hundredths, or even thousandths of a cent.
Source: The Federal Reserve, www.federalreserve.gov.
A country had exports of $100 billion, imports of $90 billion, net transfers from abroad of - $10 billion, and - $5 billion of net income from foreign investments. What is the country's current account balance?
Explanation
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Current Account :
It includes the short...
Macroeconomics 11th Edition by Stephen Slavin
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