In 2016, Britain left the European Union and the British pound subsequently
depreciated in value. Who did not benefit from the weaker British pound following
Britan's exit?
Select the correct answer below:
British workers working in continental Europe who get paid in Euros and
send their salaries home to Britain.
Firms that export to continental Europe and receive euros as payment.
U.K. central bankers who may have to deal with the long-term inflation that
results from a weaker pound
U.K. citizens who have invested their money in Chinese and Japanese assets

Question

29-04-2024
Business

Answered

In 2016, Britain left the European Union and the British pound subsequently
depreciated in value. Who did not benefit from the weaker British pound following
Britan's exit?
Select the correct answer below:
British workers working in continental Europe who get paid in Euros and
send their salaries home to Britain.
Firms that export to continental Europe and receive euros as payment.
U.K. central bankers who may have to deal with the long-term inflation that
results from a weaker pound
U.K. citizens who have invested their money in Chinese and Japanese assets

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-04-29T02:23:04-04:00

The correct answer is: - British workers working in continental Europe who get paid in Euros and send their salaries home to Britain. Explanation: 1. When Britain left the European Union in 2016, the British pound depreciated in value. 2. A weaker British pound means that it takes more pounds to buy the same amount of foreign currency like the Euro. 3. British workers in continental Europe who get paid in Euros and send their salaries home to Britain would receive fewer pounds for their Euro earnings due to the weaker exchange rate. 4. As a result, these workers would not benefit from the weaker British pound because the value of their earnings in pounds would decrease when converted from Euros.