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Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559Macroeconomics 11th Edition by Stephen Slavin
Edition 11ISBN: 978-0077641559 Exercise 72
Circle the letter that corresponds to the best answer. Suppose that last month the U.S. dollar was trading on the foreign-exchange market at 0.85 euro per dollar, and today the U.S. dollar is trading at 0.88 euro per dollar. Explain what has happened.
A) The dollar has depreciated and the euro has appreciated.
B) The euro has depreciated and the dollar has appreciated.
C) Both the euro and the dollar have appreciated.
D) Neither the euro nor the dollar have depreciated.
A) The dollar has depreciated and the euro has appreciated.
B) The euro has depreciated and the dollar has appreciated.
C) Both the euro and the dollar have appreciated.
D) Neither the euro nor the dollar have depreciated.
Explanation
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A given number of dollars can now be exc...
Macroeconomics 11th Edition by Stephen Slavin
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