The exchange rate is the price of one currency in terms of another currency an exchange rate specifies how many units of one country's currency equal one unit of another country's currency. 

Suppose the following table forecasts exchange rate data for may 24, 2020, in terms of Canadian dollars per unit of foreign currency use the information in the table to answer the questions that follow:

 

Suppose that on May 24, 2020, an ornamental bookcase handmade in the United States is priced at US$2,000. The approximate Canadian dollar price of the bookcase would be __________

If the exchange rate for the Canadian dollar-Mexican peso falls from the rate given by the table to CONSO. 05 per peso, the value of the Canadian dollar _____________relative to the peso.

Transcribed Image Text:

Foreign Currency Canadian Dollars (CONS) per Unit of Foreign Currency Brazilian real (R$) 0.5514 S. dollar 1.0847 UrUSs) Euro (C) 1.4558 Japanese yen () 0.008925 Mexican peso (MEXS) 0.1001 UK pound (6) 2.152 Foreign Currency Canadian Dollars (CONS) per Unit of Foreign Currency Brazilian real (R$) 0.5514 S. dollar 1.0847 UrUSs) Euro (C) 1.4558 Japanese yen () 0.008925 Mexican peso (MEXS) 0.1001 UK pound (6) 2.152

Answer rating: 100% (QA)

1 us dollar10847 canadian dollar 110847 2000 2000108471 ... View the full answer