The country of Lancore,which was on a fixed exchange-rate system and had an undervalued currency,has just adopted a flexible exchange-rate system.Which of the following statements is correct?
A) Lancores's currency will depreciate and its exports will increase as a result.
B) Lancores's currency will appreciate and its exports will increase as a result.
C) Lancores's currency will depreciate and its exports will decrease as a result.
D) Lancores's currency will appreciate and its exports will decrease as a result.
Correct Answer:
Verified
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