Multiple Choice
In 1985, the exchange rate between the U.S. dollar and the Japanese yen was $1 = 262 yen; in 2003, the rate was $1 = 110 yen. Between 1985 and 2003, the
A) dollar appreciated in value relative to the yen.
B) yen appreciated in value relative to the dollar.
C) dollar price of yen fell.
D) yen price of dollars rose.
Correct Answer:
Verified
Correct Answer:
Verified
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