From 1980 to 2000, the yen/dollar exchange rate fell from 240 yen/dollar to 102 yen/dollar, while the dollar/pound exchange rate fell from 2.22 dollars/pound to 1.62 dollars/pound. As a result, the dollar depreciated relative to the yen, but appreciated relative to the pound the dollar appreciated relative to the yen, but depreciated relative to the pound the dollar appreciated relative to both the yen and the pound the dollar depreciated relative to both the yen and the pound

From 1980 to 2000, the yen/dollar exchange rate fell from 240 yen/dollar to 102 yen/dollar, while the dollar/pound exchange rate fell from 2.22 dollars/pound to 1.62 dollars/pound. As a result, the dollar depreciated relative to the yen, but appreciated relative to the pound the dollar appreciated relative to the yen, but depreciated relative to the pound the dollar appreciated relative to both the yen and the pound the dollar depreciated relative to both the yen and the pound

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please help me figure out the answers to these two questions. Please also explain the correct answers to me and if you can highlight the correct choice.

From 1980 to 2000, the yen/dollar exchange rate fell from 240 yen/dollar to 102 yen/dollar,
while the dollar/pound exchange rate fell from 2.22 dollars/pound to 1.62 dollars/pound. As a
result,
the dollar depreciated relative to the yen, but appreciated relative to the pound
the dollar appreciated relative to the yen, but depreciated relative to the pound
the dollar appreciated relative to both the yen and the pound
the dollar depreciated relative to both the yen and the pound

Suppose purchasing power parity holds. If the price level in the United States is 100 dollars per
good and the price level in Japan is 250 yen per good, then the nominal exchange rate is
yen per dollar.
.25
.4
4
2.5

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