Chapter 12 LECTURE NOTES

Mar 20, 2013 · $3 for 1 pound would be a depreciation of the dollar, compared to the original example of $2 per pound. C. Appreciation means the value of a currency or its purchasing power has risen; it takes less of that currency to buy another country’s currency. $1 = 1 pound would be an appreciation of the dollar relative to the pound. ................
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