The global financial crisis of 2007-2008 resulted in a(n) ________ of the Swiss franc. In 2011, the Swiss central bank intervened in order to cause a(n) ________ of the franc.
A) appreciation; appreciation
B) depreciation; depreciation
C) appreciation; revaluation
D) depreciation; appreciation
E) appreciation; depreciation

Question

Quizplus · Accepted Answer

During the financial crisis, investors sought the safety of the Swiss franc, causing an appreciation in its value. In 2011, the Swiss central bank intervened in order to weaken the franc and encourage inflation, leading to a depreciation of the currency. Therefore, the correct answer is E (appreciation followed by depreciation).

The Global Financial Crisis of 2007-2008 Resulted in A(n) ________