P18-1
Foreign exchange and commodity prices. While traveling in the following countries, you see twenty-ounce plastic bottles of Coca-Cola. You know the price in the United States for a Coke is
$ 0.990.99, but the countries have the following prices: Canada: C $ 1.54 Japan: ¥ 155 England: £ 0.46 European Union: euro € 0.89
What is the implied exchange rate for U. S. dollars and these four currencies?
P18-3
You are taking a trip to six European countries. It is a ten-day trip, and you are taking $ 3900 The current direct conversion rate is $ 1.1723 for euros. While in Europe, you spend euro € 3 161.323 You convert your remaining euros back to U. S. dollars upon your return. If the exchange