Asked by
Esther Rengifo
on Dec 16, 2024
Verified
A drop in the dollar price of British pounds implies that:
A) fewer U.S.dollars are needed to buy British pounds.
B) more dollars are needed to buy British pounds.
C) the pound has appreciated.
D) the dollar has depreciated.
E) British goods are now more expensive to Americans.
British Pounds
The currency of the United Kingdom, which is one of the most widely used and oldest currencies in the world.
Foreign Exchange
The exchange of one currency for another or the conversion of one currency into another currency.
- Become familiar with the phenomena of currency appreciation and depreciation.
- Interpret the implications of exchange rate shifts on the trade of imports and exports.
Verified Answer
SA
Learning Objectives
- Become familiar with the phenomena of currency appreciation and depreciation.
- Interpret the implications of exchange rate shifts on the trade of imports and exports.
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