Economics Second chance Self St X + V X > C a education.gov.za/Portals/0/Documents/Manuals/2022%20Study%20Guides/High%20Enrolment%20Study%20Guides%20FINAL/Economics-Foreign%20Exchange%20Mar... LC O E Economics Second chance Self Study Guides - Foreign Exchange Mark... 36 / 82 - 100% + 1 3.8 Study the following information and answer the questions that follow. OM 35 EXCHANGE RATES AXXX D1 M WE R18 Rand/ Pound Exchange 36 R17 D1 S D 100 120 Quantity 37 6:33 AM 3.8.1 Identify the original equilibrium exchange rate in the above graph? (1) Monday 6/6/2022 Economics-Foreign.pdf Show all XEconomics Second chance Self St X + V X > C education.gov.za/Portals/0/Documents/Manuals/2022%20Study%20Guides/High%20Enrolment%20Study%20Guides%20FINAL/Economics-Foreign%20Exchange%20Mar... LC O E Economics Second chance Self Study Guides - Foreign Exchange Mark... 35 / 82 100% + 3.6.1 How will an increase in export prices and import prices affect the South African economy? (4x2) (8) 3.6.2 Assess how an increase in import prices and an increase in export prices (terms of trade) will affect the South African economy. (4x2) (8) 3.6.3 Why is there an interdependence between the exchange rate of a country and its balance of payments? (4x2) (8) DATA RESPONSE QUESTIONS OM 34 3.7 Study the diagram below and answer the questions that follow. BRICS EXCHANGE RATES (26/12/2020) Currencies Foreign exchange rate M CNY CNY1=R2.23 WE P P1=RO. 19 1=RO. 19 35 R$ R$1=R2.79 Source: https://www.x-rates.com/ 3.7.1 Name the country that is represented by the R$ symbol. (1) 3.7.2 With reference to the currency in the table, which currency is the strongest against the Rand? (1) 3.7.3 Briefly describe the concept foreign exchange rate. (2) 3.7.4 Why would South Africa gain most by exporting to Brazil than the other BRICS 36 countries? (2) 6:26 AM 3.7.5 A businessman would like to import goods to the value of Chinese Yuan 250 000. Monday Calculate how much Rand the businessman should have for the imports. Show all calculations. 6/6/2022 Economics-Foreign..pdf Show all XSOUTH AFRICA: CURRENT ACCOUNT Current account (R Millions) 2020 Merchandise exports 1 286 047 Net gold exports 108 299 Services receipts 121 073 Income receipts 121 120 Merchandise imports 1 109 459 Payment for services 160 422 Income payments 216 319 Current transfers -43 135 Balance on current account 108 204 Memo item: Trade balance (A)