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:
1. What is the name of the currency in your country?
2. What is the exchange rate between the dollar and your currency?
$1 = ______________
3. What is the exchange rate between your currency and the dollar?
1 ___________ (local currency) = __________ dollars
4. What was the exchange rate between the dollar and your currency 1 year ago?
$ 1 = ______________ (last year)
5. 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?
6. What would that car have been worth, using last year’s exchange rate?
7. In the past year, has your local currency gotten ‘weaker’ or ‘stronger’ compared to the dollar?
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