Chapter 18, Problem 1QP

a)

Summary Introduction

To find: The polish zlotys that Person X can get if he has $100

Introduction:

The price of a country’s currency that in term of the other nation’s currency is the exchange rate. The rate of exchange can be either floating or fixed. The two components of the exchange rates are the foreign currency and the domestic currency.

b)

Summary Introduction

To find: The worth of a euro.

c)

Summary Introduction

To determine: The dollars that Person X can get if he has 5 million euros.

d)

Summary Introduction

To determine: Whether the Country NZ’s dollar worth more or the Country S’s dollar worth more.

e)

Summary Introduction

To determine: Whether the Country M’s peso worth more or the Country C’s peso worth more.

f)

Summary Introduction

To find: The Country S’s franc that Person X can obtain for a euro and also determine this rate.

g)

Summary Introduction

To determine: The most valuable and the least valuable currency per unit.