Friday
April 18, 2014

Homework Help: eco

Posted by Karen on Wednesday, November 19, 2008 at 1:00am.

Assume that American rice sells for $100 per bushel, Japanese rice sells for 16,000 yen per bushel, and the nominal exchange rate is 80 yen per dollar. Suppose that rice is the only commodity in the world. What would happen to the real exchange rate between the United States and Japan?

Is it equal to 1? If not, can anyone please correct me and explain it to me?


THANKS A LOT!!!

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

macroeconomics - assume that American rice sells for 100.00 per bushel, japanese...
Econ - Assume that American rise sells for $100 per bushel, Japanese rice sells...
Microecomics - Assume that American rise sells for $100 per bushel, Japanese ...
algebra - Wild rice sells for $6 pound, and plain rice sells for $1 per pound. A...
Numerical & Proportional Reasoning - Kendra traveled to Europe and Japan on a ...
japan - Using demand and supply analysis to assist you, what are the effects on ...
International Business - How would I firqure out how much in american dollars =...
problem solving - Suppose that two current exchange rates are US $1= 117.9 ...
arithmetic - a recipe for rice pudding uses 1/2 cup of rice and serves 6 people...
math - 18. A farmer planted a field of BT 123 corn and wants to estimate the ...

Search
Members