Assume That the Exchange Rate Moves from $1 = €1

Multiple Choice

Assume that the exchange rate moves from $1 = €1.2 to $1 = €0.97.This exchange rate change indicates that:

A) the euro has depreciated in value.
B) the price of a holiday in Europe has become less expensive for U.S.residents.
C) the U.S.dollar price of European chocolate has fallen.
D) the U.S.dollar has appreciated in value.
E) the euro has appreciated in value.