Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please solve c and d Comparing Cheap Dates Around the World. Comparison of prices or costs across different country and currency environments requires translation of
please solve c and d
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-and evening on the town for two to eat at McDonald's, see a movie, and dnnk a beer. Once all costs are converted to a common currency, the U.S. 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. If the exchange rate in Moscow on the Russian ruble (RUB) was USDO.0444/RUB instead of USDO 0283/ RUB, what would be the USD price? d. If the exchange rate in Shanghai was CNY6.6/USD, what would be its cost in USD and relative to a cheap date in New York City? C. The most expensive-cheap date would be Berlin at 130% of the cost of New York City D. The most expensive-cheap date would be Sydney at 130% of the cost of New York City c. If the exchange rate in Moscow on the Russian ruble (RUB) was USDO.0444/RUB, instead of USDO 0283/RUB, what would be the USD price? The cheap date in Moscow is USD (Round to the nearest cent) Source: Data drawn from The Random Walk, Mapping the World's Prices 2014, Deutsche Bank Research, 09 May 2014. Figures 30 an 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 tic 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, maki years not directly comparable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started