Which of the following explains the shift in the foreign exchange market?
a. U.S. residents demanded more European goods and hence demanded fewer euros.
b. Europeans demanded more U.S. goods and hence demanded more U.S. dollars.
c. U.S. residents demanded fewer European goods and hence demanded more euros.
d. Europeans demanded fewer U.S. goods and hence demanded less U.S. dollars.
b. Europeans demanded more U.S. goods and hence demanded more U.S. dollars.
Economics
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