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The American car maker manufacturer, GM, manufactures a car in China for 42,000 RMB. This GM car sells for $10,000 in the USA. (1) Calculate
The American car maker manufacturer, GM, manufactures a car in China for 42,000 RMB. This GM car sells for $10,000 in the USA.
(1) Calculate the profit in US dollars for each of the four scenarios (4 points)
1. Weak Dollar: 1 $ = 6 RMB
2. Strong Dollar: 1 $ = 7 RMB
3. Very Strong Dollar: 1 $ = 8 RMB
4. Very Weak Dollar: 1 $ = 5 RMB
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