白天然 发表于 2015-5-23 22:20
Suppose that the Japanese yen rises against the U.S. dollar – that is, it will take more dollars ...
原书答案As the value of the yen grows relative to the dollar, it takes more dollars to purchase a yen, and it takes fewer yen to purchase a dollar. Assume that the costs of production for both Japanese and U.S. automobiles remain unchanged. Then using the new exchange rate, the purchase of a Japanese automobile priced in yen requires more dollars, so the real price of Japanese cars in dollars increases. Similarly, the purchase of a U.S. automobile priced in dollars requires fewer yen, and thus the real price of a U.S automobile in yen decreases.
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