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