If the exchange rate changes from 20 cents per franc to 18 cents per franc, the U.S. dollar has
a. appreciated, since its value has increased
b. appreciated, since its value has declined
c. depreciated, making French goods more expensive in U.S. dollars
d. depreciated, since its value has declined
e. depreciated, since its value has increased
A
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A. recession that lasts more than four quarters. B. severe and extended period of recession. C. recession that lasts more than eight quarters. D. recession that lasts more than three quarters.
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