Business, 28.07.2020 18:01 harodkdc8463

The nominal exchange rate is the price of one currency in terms of another currency. A nominal exchange rate specifies how many units of one country's currency are needed to buy one unit of another country's currency. Suppose the following table presents nominal exchange rate data for June 13, 2014, in terms of U. S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow.
Foreign Currency Cost of One Unit of Foreign Currency
(Dollars)
Brazilian real (BRL) 0.3666
Canadian dollar (CAD) 0.8493
Euro (EUR) 1.3288
Japanese yen (JPY) 0.009748
Mexican peso (MXN) 0.0889
United Kingdom pound (GBP) 1.8965
Suppose that on June 13, 2014, an ornamental bookcase handmade in Germany is priced at EUR 760. The approximate U. S. dollar price of the bookcase would be .
If the nominal exchange rate for the U. S. dollar–Mexican peso falls from $0.0889 to $0.066675 per Mexican peso, the Mexican peso in value, or , relative to the U. S. dollar.

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The nominal exchange rate is the price of one currency in terms of another currency. A nominal excha...

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