Suppose the British pound declines in value against other major currencies.Which of the following would happen to the trade deficit, all things constant?

Question

Quizplus · Accepted Answer

When the British pound declines in value against other major currencies, British goods and services become cheaper for foreign buyers, potentially increasing exports. At the same time, foreign goods and services become more expensive for British consumers, potentially reducing imports. These changes can lead to a decrease in the trade deficit.

Suppose the British Pound Declines in Value Against Other Major