A country in Southeast Asia states its gross domestic product
A country in Southeast Asia states its gross domestic product (GDP) in terms of yen. Last year its GDP was 50 billion yen when one U.S. dollar could be exchanged into 120 yen.
a. Determine the country’s GDP in terms of U.S. dollars for last year.
b. Assume the GDP increases to 55 billion yen for this year. However, the dollar value of one yen is now $0.01. Determine the country’s GDP in terms of U.S. dollars for this year.
c. Show how your answer in (b) would change if one U.S. dollar could be exchanged for 110 yen.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help