Assume an international regime of fixed exchange rates. When countries do not want to engage in direct intervention, countries with a BOP ________ should consider ________ their currency while countries with a BOP ________ should consider ________ their currency.

Select one:

a. surplus, devaluing; deficit, revaluing

b. deficit, devaluing; surplus, devaluing

c. deficit, revaluing; surplus, revaluing

d. surplus, revaluing; deficit, devaluing