Given a Two-Country World, Suppose Japan Devalues the Yen by 20

Multiple Choice

Given a two-country world, suppose Japan devalues the yen by 20 percent and South Korea devalues the won by 15 percent.Other things equal, this results in

A) an appreciation in the value of both currencies.
B) a depreciation in the value of both currencies.
C) an appreciation in the value of the yen against the won.
D) a depreciation in the value of the yen against the won.