2. (4 points) As of September 2016, the exchange rate between dollars and euro per euro, compared with $1.30 per euro in September 2014. a. A liter of Italian olive oil costs C20. i. What is the price in dollars of a liter of Italian olive oil at today's rate? Show your work. ii. What was the price in dollars of a liter of Italian olive oil at the ex that prevailed two years ago? (Assume that the euro price of the d unchanged.) Show your work. b. When the value of the euro changed from $1.30 to $1.12: Did the Euro depreciate or appreciate against the dollar? Explain