From management's point of view, both cost considerations and smooth daily operations indicate that an effective grievance procedure is one that settles grievances at the _____ stage.

A) first
B) second
C) third
D) fourth (arbitration stage)
E) none of the above stages is preferable to another

The country of Ethandan witnesses a major economic growth in its current financial year as a result of a major breakthrough by the nation's scientists in the field of nanotechnology. The economic growth leads to an increase in the value of the nation's currency relative to that of other nations'. In the context of the foreign exchange market, the increase in the value of Ethandan's currency is referred to as _____.

A) appreciation
B) dollarization
C) spot exchange
D) overvaluation