Purchasing Power Parity Forecasts. Use the table containing economic, financial, and business indicators to answer the following questions. Assuming purchasing power parity, and assuming that the forecasted change in consumer prices is a good proxy of predicted inflation, forecast the following exchange rates: a. Japanese yen/U.S. dollar in one year b. Japanese yen/Australian dollar in one year c. Australian dollar/U.S. dollar in one year Assuming purchasing power parity, and assuming that the forecasted change in consumer prices is a good proxy of predicted inflation, forecast the following exchange rates: a. Japanese yen/U.S. dollar in one year The forecast of the spot rate for Japanese yen/U.S. dollar in one year is $. (Round to two decimal places.) The table below contains economic, financial and business indicators from 2015: Forecasting the Pan-Pacific Pyramid: Australia, Japan, and the United States Industrial Unemployment Production Rate Gross Domestic Product Forecast Forecast Country Latest Qtr Qtr 2015e 2016e Recent Qtr Latest Australia 4.3% 3.8 % 4.1 % 3.5 % 4.2 % 4.6 % 4.3% Japan 1.6 % 2.0 % 1.9% 3.8 % -1.2% 3.8 % United States 1.9 % 2.0 % 2.2 % 1.9 % 4.7 % Consumer Prices Interest Ratos 3-month 1-yr Govt Forecast 20150 Latest Latest Latest Year Ago 4.0 % 0.9 % 2.4 % 6.90 % Country Australia Japan United States 6.23% 2.1 % -0.2% 0.73 % 1.65 % 0.0 % 2.8% 2.1 % 2.8 % 4.72 % 4.54 % Current Units (por US$) Trade Balance Last 12 mos (billion $) -13.0 98.1 Country Oct 17th Current Account Last 12 mos Forecast 15 (billion $) (% of GDP) -47.0 -5.7 % 197.5 4.6 % -793.2 -5.6 % Year ago 1.33 1.12 Australia Japan 117.00 119.00 United States -810.7 1.00 1.00 Note: Unless otherwise noted, percentages are percentage changes over one year. Rec Otr = recent quarter. Values for 2015e are estimates or forecasts