A 2017 Dow Jones Newswire article about Toyota noted, “The company has long been committed to building at least three million vehicles a year in Japan, in part out of a desire to provide jobs in the country…. That was an easier decision when a dollar bought 120 yen two years ago.”
a. Does the article imply that in 2017 it took more than 120 yen to exchange for a dollar or fewer than 120 yen? Briefly explain.
b. Given your answer to part (a), why would Toyota’s decision to produce 3 million cars in Japan have been easier two years before this article was written?