All of the Following Are Possible Explanations for Why It

Multiple Choice

All of the following are possible explanations for why it took so long for trade balances to respond to the depreciation of the dollar except

A) the prior increase in the value of the dollar had padded the profit margins of foreign producers.
B) foreign trade barriers made it impossible for the United States to substantially expand exports it bought.
C) there were still impacts from earlier appreciations working through the system.
D) exports began to increase from a much lower base than imports.