经济学

问题如下：

Based on the table, the appreciation of which of the following currencies is most likely to occur?

选项：

A.The British pound against the US dollar by 2.00%

B.The US dollar against the euro by 3.38%

C.The euro against the US dollar by 3.50%

解释：

C is correct. In the exchange rate quotation, USD/EUR, the US dollar is the price currency and the euro is the base currency. The USD/EUR is expected to increase from 1.3001 to 1.3456. This represents a 3.5% appreciation of the euro against the dollar, i.e., a percentage change of (1.3456/1.3001) – 1 = +3.50%.

A is incorrect. The USD/GBP is expected to decrease from 1.5805 to 1.5489. This represents a percentage change of (1.5489/1.5805) – 1 = –2.00%. The British pound is expected to depreciate, not appreciate, against the US dollar by 2% because the USD/GBP exchange rate is expressed with the US dollar as the price currency.

B is incorrect. The appreciation of the euro against the US dollar can also be expressed as a depreciation of the US dollar against the euro. Inverting the exchange rate quote from USD/EUR to EUR/USD, so the euro is now the price currency, leads to (1.3001/1.3456) – 1 = –3.38%. The US dollar is expected to depreciate, not appreciate, against the euro by 3.38%.

中文解析：

C正确。在美元/欧元的汇率报价中，美元为价格货币，欧元为基准货币。美元兑欧元预计将从1.3001升至1.3456。这表示欧元对美元升值3.5%，即(1.3456/1.3001)- 1 = +3.50%的百分比变化。

A不正确。美元兑英镑预计将从1.5805下跌至1.5489。这表示(1.5489/1.5805)- 1 = - 2.00%的百分比变化。由于美元兑英镑的汇率是以美元作为计价货币来表示的，因此预计英镑对美元将贬值，而不是升值2%。

B不正确。欧元对美元的升值也可以表现为美元对欧元的贬值。将美元/欧元的汇率报价倒置为欧元/美元，因此欧元现在是价格货币，导致(1.300 /1.3456)- 1 = - 3.38%。预计美元对欧元将贬值3.38%，而不是升值。