ensure you adhere to the word limits because succinctness will be rewarded as per marking matrix below. Provide a total word count next to the title of your assignment.
Also ensure you reference your ideas as per school referencing guidelines. Your reference list is not included in the word count and should be provided at the end of your answers and titled as such.
Provide an actual word count against the heading of each of your answers.
Ensure you edit your work by reading through it manually (not simply an auto spell check) and check your example calculations at least once before submitting – you will be rewarded for doing so. It is surprising how much one’s grade can improve by editing one’s work.
QUESTIONS:
1. There are two types of quotes in the spot currency market, direct or indirect. Please respond to the following questions. (LO1&2, 6 marks)
1. Which of these is typically used in United States?
2. Which of these is typically used in Europe?
3. Which of these is typically used in Australia?
Please critically discuss why Australia uses the type of spot quotes that it does relative to two other countries?
2. Suppose the quote in Australia is USD 0.801. How much would AUD 250,000 cost in USD? Please provide a formula and all workings. (LO2, 4 marks)
3. If the GBP quote is USD 1.2772-87 answer the following questions and please provide formulae and show all workings. (LO2-4, 6 marks)
1. If you converted $20,000 to GBP and then back to USD, what would be its value in USD?
2. If you are able to buy pounds at the bid rate and sell them at the ask rate, how many USD would you need to earn $1,750 on a round-trip transaction (buying GPD for USD and then selling the GPD for USD)?
4. Critically discuss in your own words, the functions and contribution to society of the foreign exchange market, market participants and transactions. (LO1-6, 5 marks)
5. List and explain in detail two strategic motives why firms become multinationals and provide one motive why firms may not become multinationals and give an example of each motive. (LO3-6, 3 marks)
6. Critically discuss in your own words the theory of Purchasing Power Parity (PPP), noting the difference between absolute purchasing power parity, relative purchasing power parity. As part of your discussion state whether PPP is useful in practice and why, drawing on your understanding of the Big Mac Index. (LO4-6, 6 marks)
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