Question

Suppose the GDP of Australia is 100,000 AUD and the exchange rate between AUD and USD is 1.34 AUD=$1. What is the GDP of Australia when measured in USD? Round your answer to the nearest hundredth.

Answer 1

Answer:

The value of GDP in dollars = $74600

Explanation:

Given the GDP (gross domestic product) of Australia = 100000 AUD

Given the exchange rate, 1.34 AUD = $1.

Since we have given the total amount of GDP for Australia and exchange rate. Now we have to calculate the value of Australian GDP in the dollars. We can find this by dividing the total GDP with 1.34 AUD.

The value of GDP in dollars = 100000 / 1.34 = $74626.86 or $74600.