. Table: Exchange Rates Year Exchange Rates 2000 10.5. $=0.5 Brishf. 0.4European=1001apanese 2004 lU.S.$=l.OBrin’sh 0.8Euf=2001m Reference: Ref 203

(Table: Exchange Rates) Using the hypothetical exchange rate information in the table, which of the following statements is correct?

1.In 2004, the price of one Japanese yen had doubled relative to European euros.

2.In 2004, the Japanese yen had become stronger relative to European euros.

3.In 2004, the price of one Japanese yen had not changed relative to European euros.

4.In 2004, the American dollar had become weaker relative to British pounds.