Use the Following to Answer Questions: Table: Exchange Rates -(Table: Exchange Rates) Using the Hypothetical Exchange Rate Information in

Use the following to answer questions: Table: Exchange Rates $$\begin{array} { l l l } \hline \text { Year } & \text { Exchange Rates } & \\\hline 2000 & \text { 1 U.S. } \$ = 0.5 \text { British } £ & 0.4 \text { European } € = 100 \\& \text { Japanese ₹ } & \\2004 & \text { 1 U.S. } \$ = 1.0 \text { British } £ & 0.8 \text { European } € = 200 \\& \text { Japanese ₹ }\\\hline\end{array}$$
-(Table: Exchange Rates) Using the hypothetical exchange rate information in the table, which of the following statements is correct?

A) In 2004, the U.S. dollar had depreciated relative to the British pound.
B) In 2004, the British pound had depreciated relative to the U.S. dollar.
C) In 2004, the Japanese yen had appreciated relative to the European euro.
D) In 2004, the European euro had appreciated relative to the Japanese yen.