In Late 2000,you Could Purchase About 400 Drachma for a Dollar.In

question 78

Multiple Choice

In late 2000,you could purchase about 400 drachma for a dollar.In late 2005 you could purchase about 280 drachma for a dollar.These exchange rates are given in

• A)real terms and over this period the dollar appreciated.
• B)real terms and over this period the dollar depreciated.
• C)nominal terms and over this period the dollar appreciated.
• D)nominal terms and over this period the dollar depreciated.

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