You fall asleep in class and don't wake up for 20 years. In 2018, the price for a iPhone x in the US was $800. In 2018, the price for one iPhone x in Spain was 600 Euros (its currency). WHEN you wake up in 2033, the price of an iPhone 20(xx) in in the US has risen to $7,500 and in Spain it has risen to 11,000 Euros. (Yes, we are assuming the Euro still exists in 2038 ) Hint: e=p/p+ (how can use prices of phones in two states to compute an exchange rate What should the Dollar-Euro exchange rate be in 2038 (using e from the US perspective)? Analyzing National Exchange Rate Strategies (6 points) Foreigns Per Dollar 17 13 9 5 Currency Intervention 0.5 1.5 2.7 Billions of Dollars The above chart shows the daily foreign exchange market with a foreign state attempting to affect the value of its currency] ("the foreign") relative to the dollar. Answer the following questions. What is the market rate of the dollar with intervention? How much of the state's currency is it exchanging for dollars per day? (Hint: Just remember you will need to purchase the entire gap between supply and demand of dollars for your currency per day)