Assume the Foreign Exchange Rate for the Euro Was U

question 52

Multiple Choice

Assume the foreign exchange rate for the euro was U.S. $1.00 = .91 euro last month. This month, the exchange rate is U.S. $1.00 = .88 euro. This information indicates that over the past month the

• A) U.S. dollar remained unchanged relative to the euro.
• B) U.S. dollar appreciated relative to all foreign currencies.
• C) euro appreciated relative to the dollar.
• D) euro depreciated relative to the dollar.

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Definitions:

Postbox Rule

A legal principle that deems an offer accepted once the acceptance is posted, not when it is received by the offeror.

Counter-Offer

A response to an initial offer, proposing different terms in an attempt to reach a mutual agreement.

Presumption In Law

A principle that allows the court to assume the truth of a fact until it is disproved, facilitating smoother legal proceedings.

Legal Relationship

A connection between entities or individuals as defined by law, which can encompass duties, rights, or liabilities recognized by legal statutes or court rulings.