March 30, 2015

Homework Help: economics

Posted by Ange on Monday, January 22, 2007 at 8:14am.

Okay might be a studpid question, but I am asking anyway:

the question goes like:
A US dollar costs 7.5 Norweigian kr, but at the same dollar can be purchased for 1.25 Swiss francs. What is the Norweigian Kr/Swiss franc exchange?

My answer would be:

Først to calculate what 1 Norweigian kr is in dollare so-->(1kr*$1)/7.5kr=$0.13333

And then do the same for Swiss francs--> (1Swiss francs*$1)/ 1.25= $0.8

and then the Norweigian kr/Swiss franc rate is: (0.8$/swiss franc)/(0.1333$/kr)=6 Norweigian kr/Swiss franc???

Don't give me the answer just tell me if I am totally lost and help me a bit!!

I have one more question:

Okay here:

In Munich a bratwurst costs 5 euros: a hot dog costs $4 at Bosten's Fenway park: at en exchange rate of $1.50/per euro, what is the price of a brustwurst in terms of hot dogs?

My answer:

First --> How many dollards does it cost to buy a Brustwurst?
(1.50$/Euro)* 5 euro= $7.5

so ($7.5 per brustwurst)/($ per hot dog)= 1, 875 hot dog pr brustwurst?

righ or?

Id say you are right in both questions

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