Suppose That Today 1 British Pound Exchanges for $1

question 126

Multiple Choice

Suppose that today 1 British pound exchanges for $1.60.If next week 1 pound exchanges for $1.70,it is clear that

• A)The pound has depreciated relative to the dollar.
• B)The dollar has appreciated relative to the pound.
• C)Both currencies have appreciated.
• D)The dollar has depreciated relative to the pound.

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