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Chapter 1: Q.18 (page 67)

According to Figure 8, in which years would you have chosen to visit the Grand Canyon in Arizona rather than the Tower of London?

Short Answer

Expert verified

In late 1980s when the value of dollar is week, it will be good to visit Grand Canyon in United States.

Step by step solution

01

Step 1. Introduction

As figure 8 shows the real time date of exchange rate of the U.S Dollar from year 1973 to 2017. The market's price swings have been significant: the dollar's worth climbed gradually until 1976, then fell to a low point between 1978 and 1980.

02

Step 2. Explanation

The dollar was weak in the late 1980s and early 1990s, making travel abroad more expensive; hence, it was a favorable time to visit the Grand Canyon in the United States. Traveling overseas became more affordable in the early 1980s as the value of the dollar increased.

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