In 2002 the euro exchange rate was about $0.87 (i.e., 0.87 dollars per euro). In 2009, the exchange rate was about $1.33. If a hand-blown glass item from Italy cost about 50 in 2002. Ignoring shipping costs and taxes, a consumer in the United States could have purchased this glass for what price?

a. Assuming the price in 2009 adjusted to 60, what would be the cost in the US in that year?

b. Draw a brief analogy on how the exchange rate affected the price?