In the first half of the 1980s, the American fiscal and monetary policies resulted in an increase in real interest rates relative to the rest of the world. As a result,

a.the American demand for foreign securities increased.

b.the supply of USD in the foreign exchange market increased.

c.the USD appreciated considerably.

d.the price of U.S. goods in foreign markets decreased, causing exports to increase, and the price of foreign goods in U.S. markets increased, causing imports to fall.