4. Pricing foreign goods The exchange rate is the price of one currency in terms of another currency. An exchange rate specifies how many units of one country's currency are needed to buy one unit of another country's currency. Suppose the following table forecasts exchange rate data for May 21, 2018, in terms of U.S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow. Foreign Currency Lithuanian litas (LTL) Canadian dollar (CAD) Euro (EUR) Cost of One Unit of Foreign Currency (Dollars) 0.3329 0.7176 1.129 Mexican p $804 0.0934 United Kingdo BP) 1.603 $1,005 $1,206 $115,203 Suppose that on Ma bookcase would be an ornamental bookcase handmade in Mexico is priced at MXN 10,760. The approximate U.S. dollar price of the If the exchange rate for the U.S. dollar-Mexican peso falls from $0.0934 to $0.0747 per Mexican peso, the U.S. dollar relative to the Mexican peso. in value, or Grade It Now Save & Continue 4. Pricing foreign goods The exchange rate is the price of one currency in terms of another currency. An exchange rate specifies how many units of one country's currency are needed to buy one unit of another country's currency. Suppose the following table forecasts exchange rate data for May 21, 2018, in terms of U.S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow. Foreign Currency Lithuanian litas (LTL) Canadian dollar (CAD) Euro (EUR) Mexican peso (MXN) Cost of One Unit of Foreign Currency (Dollars) 0.3329 0.7176 1.129 0.0934 United Kingdom pound (GBP) 1.603 Suppose that on May 21, 2018, an ornamental bookcase handmade in Mexico is priced at MXN 10,760. The approximate U.S. dollar price of the bookcase would be If the exchange rate for the U.S. dollar-Mexican peso falls from $0.0934 to $0.0747 per Mexican peso, the U.S. dollar relative to the Mexican peso. in value, or