Answer
a. appreciate, nominal
Work Step by Step
Appreciation is when the value of a currency increases on foreign exchange markets. The nominal exchange rate is the rate at which one currency is exchanged for another.
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 31 - Part XI - Open-Economy Macroeconomics: Basic Concepts - Quick Check Multiple Choice - Page 680: 4
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