Question 14 (2 points) Assume the United States has the following import/export volumes and prices. Assume the dollar, depreciates by say 20% on average against the British pound. What is the pre-depreciation and post-depreciation trade balance? Assumptions Values Initial spot exchange rate, S/ 2.20 Price of exports, dollars (5) Price of imports, foreign currency (L) Quantity of exports, units Quantity of imports, units 100 Percentage depreciation of the dollar 2096 20 12 100 What is the resulting trade balance immediately after depreciation of the U.S. dollar? -$1,300 -$1,600 -$710.59 -$666.67 None of the answers is correct