On March 1st you make plans to travel to Japan the following summer. The quote f

Question

On March 1st you make plans to travel to Japan the following summer. The quote for the yen is $0.0200 per yen. Since it will be a short trip, you believe $1,000 in spending money will be sufficient. On August 1st, the quote is $0.0100. As a result, your $1,000 will

A.) buy twice as many yen as you had planned

B.) buy half as many yen as you had planned

C.) buy 20 percent fewer yen than you had planned

D.) buy 20 percent more yen than you had planned

E.) buy exactly as many yen as you had planned

Why?

Explanation / Answer

A.) buy twice as many yen as you had planned

as the value of the yen per dollar is decreased to half

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