If in 2020 one Australian dollar exchanged for 0.75 U.S. dollars and in 2021 one Australian dollar exchanged for 0.69 U.S. dollars, then we know with certainty that: Australian goods became more expensive to Americans the Australian dollar depreciated relative to the U.S. dollar American goods became more expensive to Australians the U.S. dollar depreciated relative to the Australian dollar dollar the value of the Australian dollar did not change

If in 2020 one Australian dollar exchanged for 0.75 U.S. dollars and in 2021 one Australian dollar exchanged for 0.69 U.S. dollars, then we know with certainty that: Australian goods became more expensive to Americans the Australian dollar depreciated relative to the U.S. dollar American goods became more expensive to Australians the U.S. dollar depreciated relative to the Australian dollar dollar the value of the Australian dollar did not change

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter34: International Finance

Section: Chapter Questions

Problem 3QP

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