Question 13 Assume you live in the United States and just read that the Phillips curve has shifted downward due to an unexpected shock related to the exchange rate. What could you say about the strength of the US dollar and production costs? the USD appreciated, making imports from other countries less expensive, and likely decreasing domestic production costs the USD depreciated, making US exports more attractive to other countries, and likely increasing domestic production costs the USD depreciated, making imports from other countries more expensive, and likely increasing domestic production costs the USD appreciated, making US exports more attractive to other countries, and likely decreasing domestic production costs