Exchange Rates and the Balance of Payments (id: 7249a7bc5)

本题目来源于试卷: Exchange Rates and the Balance of Payments，类别为 IB经济学

[单选题]

Year	Official Exchange Rate (peso per euro)
2020	56.19
2023	60.22

A Filipino firm pays its German-based consultant 200 000 euros every year. Using the information in the table above, what is the increase in the cost of the payment between 2020 and 2023?

A. 12 044 000 pesos
B. 806 000 pesos
C. 214 344 euros
D. 11 238 000 pesos


参考答案:  B


本题详细解析:

B

$\underset{‾}{\text{Explanation}}$:
2023 cost: $60.22\times 200000=12044000$

2020 cost: $56.19\times 200000=11238000$

Increase in cost: $12044000-11238000=806000$ pesos

A is the cost in pesos in 2023.

C is incorrect because the consultant's pay (200 000 euros) is a constant. The answer incorrectly applies the percentage the euro appreciated (7.17$\mathrm{\%}$) to the original 200 000 euros.

D is the cost in pesos in 2020.

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