Under a floating exchange rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in:

A.Deflation in the Japanese economy.

B.An increase in Japan’s trade deficit with other countries.

C.An appreciation of the yen vis-à-vis other currencies.

D.A depletion of international reserves held by the central bank of Japan.

正确答案：An appreciation of the yen vis-à-vis other currencies.