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A(n)___ in the money supply will cause interest rates to decrease, which, in turn, causes spending to____.
1 answer:
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Answer:
USD $342.47
Step-by-step explanation:
For these kinds of questions, I like to use what I call the 'I want... If' method. I'll walk you through my thought process. Essentially, when I write my formula, I think, 'I want to find out how many US dollars I can receive from JMD $50,000 if JMD $146 is USD $1.
Essentially, the 'I want to find out... $50,000' part goes in the nominator of a fraction. 'If JMD $146' goes in the denominator of the same fraction. Then, add a multiply operator and finally 'is USD $1' goes after the operator.
In working, it looks like this:
JMD $ x USD $1 = USD $342.4657534247 = USD $342.47 (To 3 s.f.)