HW2_key.pdf - Feenstra/Taylor International Macroeconomics 3e Practice Homework 3.1 Exchange Rates and Prices in the Long Run Purchasing Power Parity

HW2_key.pdf - Feenstra/Taylor International Macroeconomics...

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10/4/2019 Feenstra/Taylor International Macroeconomics 3e - Practice Homework: 3.1 Exchange Rates and Prices in the Long Run: Purchasing Power Parity and … ; 3/5 1. Based on the data provided in table 1, from the perspective of the United States, What are the exchange rates between dollars and yen, and between dollars and pounds respectively on June 25, 2010 using direct quotes? a. 89.35; .66 Think of how we normally quote prices of goods such as gasoline which is an example of a direct quote. b. 89.35; 1.496 Think of how we normally quote prices of goods such as gasoline which is an example of a direct quote. c. .0112; 1.496 You are able to distinguish between direct and indirect quotes. d. .0112; .66 Think of how we normally quote prices of goods such as gasoline which is an example of a direct quote.
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10/4/2019 Feenstra/Taylor International Macroeconomics 3e - Practice Homework: 3.1 Exchange Rates and Prices in the Long Run: Purchasing Power Parity and …
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