Use Table_22.1 to answer the following questions:

a. How many euros can you buy for $100? How many dollars can you buy for 100 euros?

b. How many Swiss francs can you buy for $100? How many dollars can you buy for 100 Swiss francs?

c. If the British pound depreciates with respect to the dollar, will the exchange rate quoted in Table 22.1 increase or decrease?

d. Someone offers you the choice between a U.S. and a Canadian dollar. Which do you choose?

Table 22.1 Exchange rates in February 2014

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9 Country Eurozone countries Sweden 2 1 7 China (Hong Kong) Direct quotes (number of U.S. dollars per unit of foreign currency). Other quotes are indirect (units of foreign currency per U.S, dollar). Source: Financial Times, February 18, 2014, available at www.ft.com.