question archive Let's assume the U
Let's assume the U
Subject:EconomicsPrice:2.87 Bought7
Let's assume the U.S. dollar/Mexican peso exchange rate is 1/10 pesos and the price of a Big Mac in the United States is $5. Mexico's GDP is 18.000 billion pesos, and its population is 125 million people. Assuming the countries have purchasing.ower arity the price of a Big Mac in Mexico is your response to the nearest integer) Mexican income per capita is ---------- Pesos. (Round thousand pesos. (Round your response to the nearest integer) Mexican income per capita in U.S. dolars is ------------ thousand USD. (Round your response to the nearest integer.)
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ANSWER:
A) US dollar / mexican peso = 1 / 10 peso
1 US dollar = 10 peso
if big mac costs $5 in US , then in mexico it will be 5 * 10 pesos = 50 pesos.
B) Mexican imcome per capita = mexico gdp / population
Mexican income per capita = 18,000,000,000,000 / 125,000,000 = 144 thousand pesos
C) Mexican income per capita in us dollars = Mexican income per capita in pesos / 1 US dollar in pesos = 144 thousand pesos / 10 = 14.4 thousand USD.
