Question
You learned that exchange rate is the value between two currencies. Simply put, exchange rates are the amount of one currency you can exchange for
You learned that exchange rate is the value between two currencies. Simply put, "exchange rates are the amount of one currency you can exchange for another. Purchasing power, on the other hand is, the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Video: https://www.investopedia.com/terms/p/purchasingpower.asp
Based on the country you profiled above (Canada and Mexico) part B, determine the purchasing power of their currency for a consumer good that THEY WOULD BUY FROM THEIR CANADIAN TRADING PARTNER. Also, calculate what Canada's purchasing power is with a country that they import from. See example below on Coca Cola and Mexico.
PLEASE ANSWER THIS PROPERLY I AM HAVING A DIFFICULT TIME UNDERSTANDING
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