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Go to the CIA Fact Book, https://www.cia.gov/the-world-factbook/ and look AUSTRALIA
Use Google (or other online resources) to answer the following:
- What is the name of the currency in your country?
- What is the exchange rate between the dollar and your currency?
$1 = __ - What is the exchange rate between your currency and the dollar?
1 _(local currency) = __________dollars - What was the exchange rate between the dollar and your currency 1 year ago?
$1 = __ (last year)
- Suppose Ford exported a Ford Mustang that cost $30,000 in the US to your country. What would that car be worth in the local currency?
- What would that car have been worth, using last year’s exchange rate?
- In the past year, has your local currency gotten ‘weaker’ or ‘stronger’ compared to the dollar?
