The Cline family made a trip to Europe in 2006. They paid the following amounts in local
Question:
The Cline family made a trip to Europe in 2006. They paid the following amounts in local currency for hotel, entertainment, and transportation.
England .............£855
France ............. 1,462
Germany .............2,753
Denmark .............K6,280
How much did the trip cost in U.S. dollars once they got to Europe? Use the exchange rates in Table
Transcribed Image Text:
(per pound) $2.50 Supply Exchange Rate direct) Demand $1.50 Supply and Domand for Pounds in Torms of Dollars S weaker with upward movement on vertical axis) per dollar) 0.67 Supply Exchange Rate Demand 0.40 Supply and Demand for Dollars in Terms of Pounds S stronger with upward movement on vertical axis
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England 855 18507 1582 France 1462 12628 1846 Ge...View the full answer
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