If the exchange rate changes from 1 euro per U.S. dollar to 1.2 euros per U.S. dollar, the Euro has
A) appreciated, since its value has increased.
B) appreciated, since the price of U.S. dollars has increased.
C) appreciated, making U.S. goods cheaper in Euros.
D) depreciated, since its value has declined.
E) depreciated, since its value has increased.
Correct Answer:
Verified
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