If the United Kingdom's pound sterling is depreciating with respect to currencies in the rest of the world, which of the following correctly explains the resulting impact on the United Kingdom's balance of trade?(1 point)
Responses
The United Kingdom will likely import more goods, increasing its balance of trade with the rest of the world.
The United Kingdom will likely import more goods, increasing its balance of trade with the rest of the world.
The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world
The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world
The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world.
The United Kingdom will likely import more goods, decreasing its balance of trade with the rest of the world.
The United Kingdom will likely export more goods, decreasing its balance of trade with the rest of the world.
The correct answer is:
The United Kingdom will likely export more goods, increasing its balance of trade with the rest of the world.