31. Suppose the pound devalues from $1.25 at the start of A the year to $1.00 at the end of the year. Inflation during the year is 15% in England and 5% in the us. What is the real devaluation (-) or real revaluation (+) of the pound during the year? a)-12.38% b)-20.71% c) + 2.39% d) + 1.46%