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Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767Microeconomics 9th Edition by Stephen Slavin
Edition 9ISBN: 9780077426767 Exercise 15
Suppose that last month the U.S. dollar was trading on the foreign-exchange market at 0.85 euros per dollar. Today the U.S. dollar is trading at 0.88 euros per dollar.
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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Microeconomics 9th Edition by Stephen Slavin
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