econ

Solve the two question and respond for both classmate answers for each question.

Question 1

Is a “strong” dollar better or a “weak” dollar?  Include in your answer an explanation of what “strong” and “weak” mean in this context.

Classmate 1

It is better to have a strong dollar than a weak dollar. The terms strong in weak are used in international trading as measurements of the purchasing power of a particular currency. The US dollar is a fairly strong currency compared to much of the world but it is not the strongest. The strength of your dollar is indicative of the health of your economy therefore it is better to have a strong dollar than a weak one. 

Classmate 2

A strong dollar is better than a weak dollar. A strong dollar has higher international purchasing power, which means that the dollar can purchase more goods than a weak dollar. In the context of strong and weak currency, strength refers to the exchange rate between other currencies. A strong currency is worth more than a weak currency and has more purchasing power. If one dollar is worth more than one pound, then a single dollar is stronger than a single pound. 

Question 2

If you were a European country, would you join the European Union (EU)?   If so, then would you adopt the euro?

Classmate 1

So I would say yes. It would be good because for an area the size of Texas having a stable currency equality across all will stabilize the area. I will say on the flip side if the policy's of all the countries cant come to an agreement on the best path for all it can be frustrating if some are dragging the others down. But as a worldly view pulling the weaker up and helping the more struggling economies become more stable is the right choice.

Classmate 2

In my opinion, I would say yes. If I were a European Country, I think it would be beneficial to join the European Union and also adopt the euro. The euro is something that is very important to have when trading. Especially if I were a member of the European Union. Also after looking up and researching, there seem to be many advantages when joining the European Union. Overall, I would definitely say that if I were a European country, I would join the European Union and also adopt the euro.