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jenyasd209 [6]
2 years ago
14

Purchasing-power parity holds between the nations of Ectenia and Wiknam, where the only commodity is Spam. a. In 2015, a can of

Spam costs 4 dollars in Ectenia and 24 pesos in Wiknam. What is the exchange rate between Ectenian dollars and Wiknamian pesos
Business
1 answer:
Y_Kistochka [10]2 years ago
5 0

Answer:

the exchange rate between two different currency is  6 pesos per dollar

Explanation:

The computation of the exchange rate between two different currency is

= Unit cost of spam in Wiknam ÷ unit cost of  spam in Ectenia

= 24 pesos ÷ 4 dollars

= 6 pesos per dollar

hence, the exchange rate between two different currency is  6 pesos per dollar

We simply applied the above formula so that the currency rate could come

And, the same is to be applied

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