Knowee
Questions
Features
Study Tools

One U.S. dollar can purchase 9.09 Swedish Krona (SEK). If the GDP of Sweden is 85,000 SEK, what is its value when measured in U.S. dollars? Round your answer to the nearest hundredth.

Question

One U.S. dollar can purchase 9.09 Swedish Krona (SEK). If the GDP of Sweden is 85,000 SEK, what is its value when measured in U.S. dollars? Round your answer to the nearest hundredth.

🧐 Not the exact question you are looking for?Go ask a question

Solution

To convert the GDP of Sweden from Swedish Krona (SEK) to U.S. dollars, you need to divide the amount in SEK by the exchange rate.

Here are the steps:

  1. Identify the amount in SEK: 85,000 SEK
  2. Identify the exchange rate: 1 U.S. dollar = 9.09 SEK
  3. Divide the amount in SEK by the exchange rate: 85,000 SEK ÷ 9.09 = 9,351.54 U.S. dollars

So, the GDP of Sweden is approximately 9,351.54 U.S. dollars when measured in U.S. dollars.

This problem has been solved

Similar Questions

Suppose the GDP of the entire European Union is 485,000 euros and the exchange rate between euros and USD is 0.86 euros=$1. What is the GDP of the European Union when measured in USD? Round your answer to the nearest hundredth.

Suppose the GDP of India is 65,000 rupees (INR) and the exchange rate between rupees and USD is  68 INR=$1. What is the GDP of India when measured in USD? Note: Please enter your answer as a price. It can include decimals to the hundredth place.

Suppose that this year’s money supply is $500 billion, nominal GDP is $10trillion, andreal GDP is $5 trillion. (10 marks)a. What is the price level? What is the velocity of money?

Suppose the GDP of Australia is 100,000 AUD and the exchange rate between AUD and USD is  1.34 AUD=$1. What is the GDP of Australia when measured in USD? Round your answer to the nearest hundredth.

The government invests $1.2 trillion in infrastructure, restoring GDP from $10 trillion to its potential level of $12.5 trillion. What is the value of the government purchases multiplier? 1.2 2.08 2 2.5 0.48

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.