If the U.S. dollar is undervalued relative to the British pound, and if both the U.S. Federal Reserve and the Bank of England use monetary policy to avoid changes in their general price levels, then which of the following adjustments will occur to bring about a PPP equilibrium?
A. There will be inflation in the United States.
B. There will be deflation in Britain.
C. The pound per dollar exchange rate will rise.
D. All of these.