question archive 1) How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1
1) How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1
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1) How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.25 dollars per one British pound?
2 What is the exchange rate between the dollar and the British pound if a pair of American jeans costs 60 dollars in New York and 30 Pounds in London?
3 How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 2.00 dollars per British pound?
4 How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50 British pounds if the exchange rate is 1.50 dollars per one British pound?
5 If the goods' money prices do not change, an appreciation of the dollar against the pound, what does that mean for the price of British sweaters in terms of American jeans?
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Answer 1) 62.5 dollar .
2) 2 dollars per British pound.
3) 22.5 British pound
4)75 dollar
5) An appreciation of the dollar relative to the pound means that it takes fewer dollarsto buy a pound, so the dollar price of the pound falls. This situation is also described as the dollar is stronger in the foreign exchange market, the pound has depreciated versusthe dollar,and the pound is weaker in the foreign exchange market, makes American jeans more expensive in terms of British sweaters.
