one to three sentences$)$ of why the United Kingdom's adoption of the euro would have that effect.

To help you narrow your focus, follow these guidelines. Assume that the pound is more volatile than the euro. Do not base your answer on whether the pound would have been stronger than the euro in the future. Also, do not base your answer on an unusual change in economic growth in the United Kingdom or in the eurozone if the euro is adopted.

a$.$ The economic exposure of British firms that are heavy exporters to the eurozone would because

b$.$ The translation exposure of firms based in the eurozone that have British subsidiaries would because

c$.$ The economic exposure of U$.$S$.$ firms that conduct substantial business in the United Kingdom and have no other international business would because

d$.$ The translation exposure of U$.$S$.$ firms with British subsidiaries would because

e$.$ The economic exposure of U$.$S$.$ firms that export to the United Kingdom and whose only other international business is importing from firms based in the eurozone would because

f$.$ The discount on the forward rate paid by U$.$S$.$ firms that periodically use the forward market to hedge payables of British imports would because

g$.$ The earnings of a foreign exchange