A-LevelEconomicsInternational economic issues9708/12 · Oct/Nov 2015 · Q291 Mark
The diagram shows the number of US dollars ($) and Euros (€) which exchanged for one pound sterling (£) between 2002 and 2004. [Figure 29.1] What happened to the exchange rate of the $ against the £ and € during this period?
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A$ exchange rate against £: appreciated, € exchange rate against £: appreciated
B$ exchange rate against £: appreciated, € exchange rate against £: depreciated
C$ exchange rate against £: depreciated, € exchange rate against £: appreciated
D$ exchange rate against £: depreciated, € exchange rate against £: depreciated
✓ Correct answer
D: $ exchange rate against £: depreciated, € exchange rate against £: depreciated
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