Economics: The Basics 1st Edition by Mike Mandel

Exercise 6

At the end of 1993 the exchange rate between Mexico and the United States was 3.1 pesos to the dollar. By the end of 1994 the exchange rate was 5 pesos to the dollar, and at the end of 1995, it was 7.7 pesos to the dollar.
a) Over this period, did the dollar appreciate or depreciate against the peso?
b) Would this change make U.S. exports more or less expensive in Mexico?
c) Would it make U.S. imports from Mexico more or less expensive?