Question

Assume that General Electric is trying to decide whether to locate a new production facility in the United States or in China. In order to help make its decision, the company wants to compare labor costs in the two countries. The average hourly wage in the United States is approximately $15 per hour. The U.S. exchange rate with China is 6.500 yuan per dollar. Convert the average U.S. hourly wage into units of yuan per hour

Answer 1

Answer:

In yuan wage will be $97.5 yuan per hour

Explanation:

It is given average hourly wage in united state is $15 per hour

Exchange rate with chine = 6.5 yuan per dolor

We have to convert the hourly wage into yuan.

When we have to change dolor to yuan then we have to multiply dolor with exchange rate

Wages in yuan will be equal to $15×6.5 = 97.5 yuan per hour.