Refer to the following figure when answering
Figure 20.1: Exchange Rates
(Source: Federal Reserve Economic Data, St. Louis Federal Reserve)
-Consider Figure 20.1, which shows the £UK/$US, $US/€, and £UK/€ exchange rates. During the period 2007-2008, the U.S. dollar ________ relative to the euro and ________ relative to the U.K. pound between 2010 and 2011.
A) appreciated; did not change
B) appreciated; depreciated
C) depreciated; did not change
D) depreciated; appreciated
E) Not enough information is given.
Correct Answer:
Verified
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