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Suppose the exchange rate of the U.S. dollar was 1.50 British pounds = $1.00 (U.S.) onWednesday, and on Monday the exchange rate was $.75 (U.S.) = 1.00 British pound. Which ofthe following best descri

Suppose the exchange rate of the U. dollar was 1.50 British pounds = $1.00 (U.) onWednesday, and on Monday the exchange rate was $.75 (U.) = 1.00…

Suppose the exchange rate of the U.S. dollar was 1.50 British pounds = $1.00 (U.S.) onWednesday, and on Monday the exchange rate was $.75 (U.S.) = 1.00 British pound. Which ofthe following best describes what happened between Wednesday and Monday?A) The U.S. dollar appreciated against the British pound.B) The British pound appreciated against the U.S. dollar.C) The U.S. dollar depreciated against the British pound.D) Both answers B and C are correct.

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