Use the Following to Answer Questions: Table: Exchange Rates -(Table: Exchange Rates) Using the Hypothetical Exchange Rate Information in

question 56

Multiple Choice

Use the following to answer questions: Table: Exchange Rates $$\begin{array} { l l l } \hline \text { Year } & \text { Exchange Rates } & \\\hline 2000 & \text { 1 U.S. } \$ = 0.5 \text { British } £ & 0.4 \text { European } € = 100 \\& \text { Japanese ₹ } & \\2004 & \text { 1 U.S. } \$ = 1.0 \text { British } £ & 0.8 \text { European } € = 200 \\& \text { Japanese ₹ }\\\hline\end{array}$$
-(Table: Exchange Rates) Using the hypothetical exchange rate information in the table, which of the following statements is correct?

• A) In 2004, the U.S. dollar had depreciated relative to the British pound.
• B) In 2004, the British pound had depreciated relative to the U.S. dollar.
• C) In 2004, the Japanese yen had appreciated relative to the European euro.
• D) In 2004, the European euro had appreciated relative to the Japanese yen.

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Definitions:

Forty-Acre Plots

Part of post-Civil War Reconstruction plans, famously associated with General Sherman's Special Field Orders, No. 15, intended to redistribute Southern land to freed slaves as compensation.

Wage Labor System

An employment system where workers sell their labor in exchange for wages, typically prevalent in capitalist economies.

Full Citizenship

The condition of having fully recognized rights and duties, participation in a nation's political and civic life, and equal status under the law.