kell22wolf
10.08.2019 •
Business
Suppose the nominal exchange rate between the u.s. and the u.k. is: $1 = £0.5. also, a gallon of milk in the u.s. is $3.50 while a gallon of milk in the u.k. is £2.00. what is the real exchange rate?
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Ответ:
$ 1 = 0.56 pounds
Explanation:
Converting the cost of a gallon of milk in the UK to US dollars is:
2*2 = 4 US Dollars
The percentage more expensive UK milk is than in the US
= (1 - (price of milk in US/price of milk in UK))*100
= (1- 3.5/4)*100 = 12.5%
So milk in the UK is 12.5% more expensive in the UK than in the US.
Therefore:
The real exchange rate = 0.5*the percentage of milk more expensive in UK + 0.5
1 Dollar = 0.56 Pounds
Ответ:
Price Fixing