On December 23,2006,one U.S.dollar was worth 0.76 euros (exchange rate 1:0.76).On December 23,2009,the U.S.dollar was worth 0.70 euros (exchange rate 1:0.70).In the United States,importers who receive goods from the European Union were probably ____ on December 23,2009 because the U.S.currency had ____.

Question

Quizplus · Accepted Answer

Importers who receive goods from the European Union would be unhappy on December 23, 2009 because the U.S. currency had depreciated. This means that they would have to pay more dollars to purchase the same amount of euros, making their imports more expensive.