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RESULTS OF EXCHANGE RATE CHANGES Early in June 1983, it took 220 Japanese yen to equal $1. In June 2015, that exchange rate had fallen
RESULTS OF EXCHANGE RATE CHANGES Early in June 1983, it took 220 Japanese yen to equal $1. In June 2015, that exchange rate had fallen to 110 yen to $1. Assume that the price of a Japanese- manufactured automobile was $9,000 in June 1983 and that its price changes were in direct relation to exchange rates. a. Has the price, in dollars, of the automobile increased or decreased during the 32-year period because of changes in the exchange rate? -Select- Increased Decreased What woulu the dollar price of the automobile be in June 2015, again assuming that the car's price changes only with exchange rates? Round your answer to the nearest cent. Do not round intermediate calculations. $
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