f the exchange was 120 Japanese Yen = 1 US dollar two months ago and now the exchange rate is 135 Japanese = 1 US dollar, then a) the US dollar has depreciated and the Japanese Yen has appreciated b) both currencies have appreciated c) both currencies have depreciated d) None of the choices are correct e) the US dollar has appreciated and the Japanese Yen has depreciated
f the exchange was 120 Japanese Yen = 1 US dollar two months ago and now the exchange rate is 135 Japanese = 1 US dollar, then a) the US dollar has depreciated and the Japanese Yen has appreciated b) both currencies have appreciated c) both currencies have depreciated d) None of the choices are correct e) the US dollar has appreciated and the Japanese Yen has depreciated
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the exchange was 120 Japanese Yen = 1 US dollar two months ago and now the exchange rate is 135 Japanese = 1 US dollar, then
a) the US dollar has
b) both currencies have appreciated
c) both currencies have depreciated
d) None of the choices are correct
e) the US dollar has appreciated and the Japanese Yen has depreciated
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