_____ It takes more Irish punts to purchase a given quantity of U.S. dollars at the end of the year than at the beginning of the year. Which of the following could cause or explain this change?
A) The U.S. dollar strengthened.
B) The direct exchange rate went up.
C) Inflation was greater in the United States than in Ireland.
D) Ireland had a foreign trade surplus with the United States.
E) None of the above.
Correct Answer:
Verified
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