Practice 10 questions on ECON1103 - Principles of Macroeconomics at Mount Royal University. Free AI-generated quiz on uNotes — track your score, retake anytime.
1In Problem 1.1, Ryan Lock exchanged $15,000 for Brazilian Real (BRL) on August 8th at an airport rate of BRL 3.1805 per USD. To maximize his spending money in BRL, when should he have ideally exchanged his currency, based on the provided average monthly exchange rates in 2016?
2Crystal Gomez purchased Pokécoins for 17 Mexican Pesos (MXN). The exchange rate was MXN 18.00 = 1.00 USD, and JPY 100.00 = 1.00 USD. What were the Japanese Yen (JPY) proceeds from this purchase after conversion?
3Isaac Díez has R$4,500 to exchange for Guatemalan quetzals (GTQ). Given a spot rate of R$/€ of 2.2411 and €/GTQ of 0.0945, what is the Brazilian reais/Guatemalan quetzal (R$/GTQ) cross rate?
4In Problem 1.4, to travel from Munich to Moscow, 15,000 euros (€) were to be exchanged for Russian rubles (Rbl). Given a spot rate of $/€ of 1.0644 and Rbl/$ of 59.47, what is the Russian ruble/euro cross rate?
5In Problem 1.5, 450,000 Russian rubles (RUB) were to be exchanged for Japanese yen (JPY). Given a spot rate of Rbl/$ of 30.96 and ¥/$ of 84.02, what is the Russian ruble/yen cross rate?
6Problem 1.7 discusses the devaluation of the Mexican peso. If the spot rate changed from Ps3.30/$ (S1) to Ps5.50/$ (S2), what was the percentage devaluation of the peso?
7Kyle has three job offers with different starting salaries and signing bonuses in different currencies. To compare them, he converted them to USD. Which offer represented the greatest initial U.S. dollar compensation package?
8In Problem 1.9, a 'cheap date' cost is compared across cities. If the exchange rate in Moscow was RUB 0.04200 = 1 USD, instead of the 0.0283 used in the table, what would be the USD price of a cheap date in Moscow?
9Blundell Biotech's consolidated profits in USD for 2013 were $834.08 million and for 2014 were $881.94 million. If the same exchange rates from 2013 were applied to both years (a constant currency basis), the consolidated earnings would be $834.08 million in 2013 and $874.98 million in 2014. What was the approximate foreign exchange rate impact on the growth of Blundell's consolidated earnings from 2013 to 2014?
10According to Principle #6 in Chapter 1, how does a market economy typically determine what goods to produce, how to produce them, and for whom they are produced?
