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QUESTION
Suppose that in 1999 you could purchase about 400 Greek drachmas (the former Greek currency, replaced by the euro in 2002) for a dollar. In 2000, you...
- Suppose that in 1999 you could purchase about 400 Greek drachmas (the former Greek currency, replaced by the euro in 2002) for a dollar. In 2000, you could purchase about 350 drachmas for a dollar. Which of the following best explain the changes that could have taken place between 1999 and 2000?
- A. The dollar appreciated, increasing the trade balance.
- B. The dollar depreciated, decreasing the trade balance.
- C. The dollar appreciated, decreasing the trade balance.
- D. The dollar depreciated, increasing the trade balance.
