Question

You buy certain supplies in Nearland. Last year, the currency exchange rate was 1 USD = 3 NRD. Are these supplies more or less expensive to buy now than last year? Explain your answer in complete sentences. 1 USD = 5 NRD

Answer 1

Answer: yes they are more expensive now then they were last year

Explanation: 1 USD = 3 NRD and now it is 1 USD= 5 NRD

Answer 2

Answer: Going with the current exchange rate as regards the paragraph, the items are more expensive to buy now, considering the fact that it has become much expensive due to the dollar difference to NRD.

Step-by-step explanation:

One determinant for the value of a product it's the local currency difference to US dollars. This factor decides how expensive the item would be or not. This is predominant when the item is imported or produced with parts that are imported.

Going with the current exchange rate as regards the paragraph, the items are more expensive to buy now, considering the fact that it has become much expensive due to the dollar difference to NRD. A difference of 2NRD explains it is more expensive now than when it was bought last year.