Over the past five years, Patagonian prices have risen by 300 percent, and U.S. prices have risen by about 10 percent. During this time period, the value of the Patagonian peso has dropped from P 1 = $1.00 to P 1 = $0.50.

? What has happened to the real value of the peso over the past five years? Has it gone up or down? A little or a lot?