Multiple Choice
Suppose the exchange rate in the year 2010 was 1 euro per dollar, and in 2017 the exchange rate increased to 2 euros per dollar. If the price of a German sweater was 50 euros in both years, the new dollar price in 2017 would be ____ and imports of German sweaters would ____.
A) $25; increase
B) $25; decrease
C) $100; increase
D) $100; decrease
E) $50; remain constant
Correct Answer:
Verified
Correct Answer:
Verified
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