FIGURE 34-1 Refer to Figure 34-1

Multiple Choice

FIGURE 34-1 Refer to Figure 34-1.A fall in the exchange rate (moving down the vertical axis) indicates

A) that more dollars are needed to purchase one euro.
B) that fewer euros are required to purchase one Canadian dollar.
C) an appreciation of the Canadian dollar.
D) a depreciation of the Canadian dollar.
E) no effect on the value of the currency.