16. Assume that the Dollar/ Pound exchange rate moves from 1 British Pound=l .60 to a rate of 1 British Pound = $1.40. The new exchange rate indicates that the a. Price of a holiday in England is more expensive now for U. S. residents. b. US. dollar price of British candy is now higher. c. British pound appreciated in value. d U. S. dollar depreciated in value. e. British pound depreciated in value