wage is still $30 per day and the fixed exchange rate is still $1=110 ¥ (1 Dollar exchanges for 110 Japanese Yen). United States Japan Cars 20 days 20 days Jewelry 10 days 30 days a. If trade is taking place between the two countries, the "lower limit" to Japanese worker's wage per day is 3300 Japanese Yen. b. If trade is taking place between the two countries, the "upper limit" to Japanese worker's wage per day is 1 Japanese Yen.

Foreign exchange is a worldwide market in which one nation’s currency is converted into another nation’s currency. In further terms, exchanging of nations currency with foreign currencies. Foreign exchange happens at a specified rate which is termed the …