In 1983, the Japanese yen U S dollar exchange rate was 245 yen per dollar, and the dollar cost of a compact Japanese manufactured car was $8,000 Suppose that now the exchange rate is 80 yen per dollar Assume there has been no inflation in the yen cost of an automobile so that all price changes are ...

a The automobiles value has increased because the do ...

In 1983, the Japanese yen-U.S. dollar exchange rate was 245 yen per dollar, and the dollar cost

Question:

In 1983, the Japanese yen-U.S. dollar was 245 yen per dollar, and the dollar cost of a compact Japanese-manufactured car was $8,000. Suppose that now the is 80 yen per dollar. Assume there has been no inflation in the yen cost of an automobile so that all price changes are due to changes. What would the dollar price of the car be now, assuming the car's price changes only with exchange rates?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...