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EnglandEconomicsQuick questions

2.10-2.13 International trade and the global economy

Quick questions on Exchange rates - OCR GCSE Economics (J205)

2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.

What is q1?
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The exchange rate is \pounds 1 = \1.60.CalculatethecostindollarsofaUKgoodpricedat. Calculate the cost in dollars of a UK good priced at \pounds 250$. [2 marks]
What is q2?
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Explain one effect of an appreciation of the pound on UK exporters. [3 marks]

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