Analyze the concept of exchange rate.
Explain how the dollar price of Euros is determined.
Identify a factor that can increase the dollar price of Euros.
Identify a factor that can decrease the dollar price of Euros.
Explain why a rise in the dollar price of Euros means a fall in the euro price of dollars.
Explain the purchasing-power-parity theory of exchange rates, using the euro-dollar exchange rates as an example.
Explain why a quota is more detrimental to an economy than a tariff that results in the same level of imports as the quota.
What is the net outcome of either tariffs or quota for the world economy?