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Suppose the Exchange Rate in the Year 2010 Was 4

Question 150

Multiple Choice

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

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