When the Mexican peso collapsed in 1994, declining by 37 percent,

Question

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U.S. firms that exported to Mexico and priced in peso would have been adversely affected by the decline in the value of the peso as their goods would have become more expensive to Mexican buyers. Similarly, U.S. firms that exported to Mexico and priced in dollars would also have been adversely affected as the weakened peso would have made their goods more expensive relative to Mexican goods.

When the Mexican Peso Collapsed in 1994, Declining by 37