Comparing Cheap Dates Around the World. Comparison of prices or costs across different country and currency environments requires translation of the local currency into a single common currency. This is most meaningful when the comparison is for the identical or near-identical product or service across countries. Deutsche Bank has recently started publishing a comparison of cheap dates an evening on the town for two to eat at McDonald's, see a movie, and drink a beer Once all costs are converted to a common currency, the US dollar in this case, the cost of the date can be compared across cities relative to the base case of a cheap date in USD in New York City. After completing the table answer the following questions a. Which city in the table is truly the cheapest date? b. Which city in the table is the most expensive-cheap date? c. the exchange rate in Moscow on the Russian ruble (RUB) was USD 0.0452/RUB. Instead of USD 0.0283/RUB, what would be the USD price? d. If the exchange rate in Shanghai was CNY 6.8/USD, what would be its cost in USD and relative to a cheap date in New York City? a. Which city in the table is truly the cheapest date? (Select the best choice below.) Job LS. OA. The truly cheapest cheap date could be had in Mexico City, Mexico, at only 25% of what it costs in New York City OB. The truly cheapest cheap date could be had in Jakarta, Indonesia, at only 25% of what it costs in New York City OC. The truly cheapest cheap date could be had in Mumbai, India, at only 25% of what it costs in New York City OD. The truly cheapest cheap date could be had in Manila, Philipines, at only 25% of what it costs in New York City b. Which city in the table is the most expensive cheap date? (Select the best choice below.) steget malist O A. The most expensive-cheap date would be London at 130% of the cost in New York City OB. The most expensive-cheap date would be Sydney at 130% of the cost in New York City OC. The most expensive-cheap date would be Paris at 130% of the cost in New York City OD. The most expensive-cheap date would be Berlin at 130% of the cost in New York City Resources c. If the exchange rate in Moscow on the Russian ruble (RUB) was USD 0.0452/RUB, instead of USD 0.0283/RUB, what would be the USD price? The cheap date in Moscow is USD (Round to the nearest cont.) d. W the exchange rate in Shanghai was CNY 68/USD, what would be its cost in USD and relative to a cheap date in New York City ? The cheap date in Shanghai is USD (Round to the nearest cent) The cheap date in Shanghai relative to the cheap date in New York City is % (Round to three decimal places) SOURCE pecial... Click on the icon to import the table into a spreadsheet) Cheap Date in Exchange Exchange Rate Cheap Date in Relative Country City Local Currency Rate Quote 7 April 2014 In USD to NYC Australia Sydney AUD 111.96 USD = 1 AUD 0.9290 10401 112% Brazil Rio de Janeiro BRL 135.43 USD = 1 BRL 0.4363 Canada Ottawa CAD 78.33 USD - 1 CAD 0.9106 China Shanghai CNY 373.87 USD = 1 CNY 0.1619 France Paris EUR 75.57 USD = 1 EUR 1.3702 Germany Berlin EUR 76.49 USD = 1 EUR 1.3702 Hong Kong Hong Kong HKD 467.03 USD = 1 HKD 0 1289 India Mumbai INR 1,379 64 USD = 1 INR 0.0167 Indonesia Jakarta IDR 314,700 USD = 1 IDR 0.0001 Japan Tokyo JPY 10,269.07 USD = 1 JPY 0.0097 Malaysia Kuala Lumpur MYR 117.85 USD = 1 MYR 0.3048 Mexico Mexico City MXN 423.93 USD = 1 MXN 0.0769 New Zealand Auckland NZD 111.52 USD = 1 NZD 0.8595 Phillipines Manila PHP 1,182.88 USD = 1 PHP 0 0222 Russia Moscow RUB 2.451.24 USD = 1 RUB 0.0283 Singapore Singapore SGD 77.89 USD = 1 SGD 0.7939 South Africa Cape Town ZAR 388.58 USD = 1 ZAR 0.0946 United Kingdom London GBP 73.29 USD = 1 GBP 1.6566 United States New York City USD 93.20 1 USD 1.0000 United States 93.20 100% San Francisco USD 88.72 1 USD 1.0000 Source: Data drawn from The Random Walk, Mapping the World's Prices 2014, Deutsche Bank Research, 09 May 2014 Figures 30 and 32 with author calculations. Relative to NYC is calculated as Cheap Date in USD/93 20 Note: The cheap date combines the local currency cost of a cab ride for two, two McDonald's hamburgers, two soft drinks, two movie tickets, and two beers. In 2013 Deutsche Bank had included sending a bouquet of roses in the date, but did not include that in the 2014 index, making the two years not directly comparable