Explain how this change in exchange rates could impact U.S.consumers and firms?

Australia is the major trading partner for the United States. In 2010, U.S. exports toAustralia were more than $171 billion and imports from Australia totaled more than $224 billion.On January 1, 2009, the exchange rate between the Australian dollar and the U.S. dollar was1.224 Australian dollars = 1U.S. dollar. On January 1, 2011, the exchange rate was 1.05Australian dollars = 1 U.S. dollar. Explain how this change in exchange rates could impact U.S.consumers and firms?

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