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Suppose that you received your college degree and nailed a great job over in Europe in the summer of 2006.
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Question

Suppose that you received your college degree and nailed a great job

over in Europe in the summer of 2006. Given that your family remains in the US, you make sure that you visit the family every September by traveling from Europe to the US. We are going to compare the cost of this vacation, in terms of euros, during two different periods: September 2007 and September 2017. We assume that the cost of the trip, in terms of $ US, remains the same at $1,000 in both periods. Using the data below, we will compare the euro cost of the trip in September 2007 vs. the euro cost of the trip in September 2017.


Data:
9/1/2007 the $ per euro exchange rate is $1.39 per euro
9/1/2017 the $ per euro exchange rate was $1.19 per euro


What was the cost of the trip in 2007 measured in euros?


What was the cost of the trip in 2017 measured in euros?

What happened to the value of the dollar between 9/1/07 and 9/1/17? (Constant, stronger, or weaker)

Step-by-step answer

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Subject: Business, Economics

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