Multiple Choice
Suppose the exchange rate is $1 to 0.8 euros today, and tomorrow becomes $1 to 0.9 euros. Which of these describes what happened?
A) The dollar depreciated relative to the euro
B) The dollar appreciated relative to the euro
C) The euro appreciated relative to the dollar
D) The dollar lost value comparatively to the euro
Correct Answer:
Verified
Correct Answer:
Verified
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