1. You have 5,000 Omani Riyals. How much is this worth in US Dollars? Which currency is stronger, and which is weaker? How do you know that? Explain clearly. 2. You have 250 Singaporean Dollars. How much is this worth in Canadian Dollars? Which currency is stronger, and which is weaker? How do you know that? Explain clearly. 3. You have 125 South African Rand. How much is this worth in Thai Baht? Which currency is stronger, and which is weaker? How do you know that? Explain clearly. 4. You have 20,000 Venezuelan Bolivar. How much is this worth in Mexican Peso? Which currency is stronger, and which is weaker? How do you know that? Explain clearly. 5. You have 100 Australian Dollars. How much is this worth in New Zealand Dollars? Which currency is stronger, and which is weaker? How do you know that? Explain clearly. 6. Look at the Wall Street Journal foreign exchange homepage. Identify 2 currencies that show a green and two that show a red. Explain what this number means in each of the four cases. 7. Go to the homepage: The Big Mac index. Identify the two higher PPP countries and 3 countries with a lower PPP for the McDonald's Big Mac burger. What do these numbers mean? Explain using your own words in relation to the concept of purchasing power parity