You hold $12,000 in cash and the exchange rate of USD (American dollar) to Venezuelan bolivar is 10.15. Calculate how much your $12,000 are worth in Venezuelan bolivars (you will need this number for the calculations below). Now, suppose that you hold as much cash in bolivars, as you found above. But the exchange rate of USD to Venezuelan bolivar goes down to 9.85. How much would your cash amount in bolivars be worth in USD? Question 29 options: A) $120 B) $11,643 $12,000 D) $12,365
You hold $12,000 in cash and the exchange rate of USD (American dollar) to Venezuelan bolivar is 10.15. Calculate how much your $12,000 are worth in Venezuelan bolivars (you will need this number for the calculations below). Now, suppose that you hold as much cash in bolivars, as you found above. But the exchange rate of USD to Venezuelan bolivar goes down to 9.85. How much would your cash amount in bolivars be worth in USD? Question 29 options: A) $120 B) $11,643 $12,000 D) $12,365
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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