Question: a) Explain with an example what it means when the Australian dollar has appreciated against your home currency. (If you are a local student, use

a) Explain with an example what it means when the Australian dollar has appreciated against your home currency. (If you are a local student, use the New Zealand dollar as an example which, the exchange rate is A$1=NZ$1.05).

(2 marks)

b) If a wine distributor in Adelaide sells wine from producers in Australia, describe how its competitiveness compared to distributors that sell imported wine if the Australian dollar appreciated.

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