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Loraine Loraine
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Posts: 4563
7 years ago
Suppose the exchange rate in the year 2010 was 4 yuan per dollar and in 2011 the exchange rate fell to 3 yuan per dollar. If the price of a Chinese sweater was 120 yuan in both years, the new dollar price in 2011 would be ________ and imports of Chinese sweaters would ________.
A) $40; increase
B) $30; decrease
C) $40; decrease
D) $30; increase
E) $40; stay the same because the price stayed the same at 120 yuan
Textbook 

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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7 years ago
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