Question 2, subparts d-f AGRICULTURAL ECONOMICS 452.501/502INTERNATIONAL TRADE AND AGRICULTUREFALL 2021Homework Assignment 5Thomas-WinstonDue: November 231. The U.S. price of corn is $100 per ton, and the exchange rate between the U.S.dollarand the Japanese yen is ¥120 = $1.00.a) Calculate the international price of U.S. corn for Japan.b) If the exchange rate changes to ¥145 = $1.00, calculate the new international corn pricefor Japan.Suppose the cost of purchasing euros (EUR) and Canadian dollars (CAD) at theairport aregiven by the following bid / ask price:a) EUR 1 = USD 1.16/1.22b) CAD 1 = USD 0.81/0.932.a) How much USD is required to purchase EUR 2,000?b) How much USD is required to purchase CAD 1,500?c) How much USD will you get if you'd like to sell EUR 500 to the airport's currencyexchange store?d) How much USD will you get if you'd like to sell CAD 500 to the airport's currencyexchange store?e) Calculate the percent spread or margin for USDEUR.f) Calculate the percent spread or margin for USDCAD.3. Using the data provided in the excel sheet, complete the following using R(pleaseinclude your codes):a) On one graph, plot a line graph of the trade balance (goods) and the trade balance(goods and services) using R. Label your axes, insert a title, and summarize this plot.b) Calculate the mean, standard deviation, and range for the trade balance (goods andservices) as a percent of GDP using R.Ptv

Answer 2.) A. Amount of US required = 2000 × 1.22 = 2440 B. Amount of USD required = 1500 × 0.93…

Answered: Question 2, subparts d-f

Business

Economics

Question 2, subparts d-f

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Open-economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 1PA

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Question

Question 2, subparts d-f

AGRICULTURAL ECONOMICS 452.501/502
INTERNATIONAL TRADE AND AGRICULTURE
FALL 2021
Homework Assignment 5
Thomas-Winston
Due: November 23
1. The U.S. price of corn is $100 per ton, and the exchange rate between the U.S.dollar
and the Japanese yen is ¥120 = $1.00.
a) Calculate the international price of U.S. corn for Japan.
b) If the exchange rate changes to ¥145 = $1.00, calculate the new international corn price
for Japan.
Suppose the cost of purchasing euros (EUR) and Canadian dollars (CAD) at theairport are
given by the following bid / ask price:
a) EUR 1 = USD 1.16/1.22
b) CAD 1 = USD 0.81/0.93
2.
a) How much USD is required to purchase EUR 2,000?
b) How much USD is required to purchase CAD 1,500?
c) How much USD will you get if you'd like to sell EUR 500 to the airport's currency
exchange store?
d) How much USD will you get if you'd like to sell CAD 500 to the airport's currency
exchange store?
e) Calculate the percent spread or margin for USDEUR.
f) Calculate the percent spread or margin for USDCAD.
3. Using the data provided in the excel sheet, complete the following using R(please
include your codes):
a) On one graph, plot a line graph of the trade balance (goods) and the trade balance
(goods and services) using R. Label your axes, insert a title, and summarize this plot.
b) Calculate the mean, standard deviation, and range for the trade balance (goods and
services) as a percent of GDP using R.
P
tv

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